Sun Life Financial (TSE:SLF) Given New C$116.00 Price Target at Canadian Imperial Bank of Commerce

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by equities researchers at Canadian Imperial Bank of Commerce from C$102.00 to C$116.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 1.67% from the company’s current price.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Barclays raised their price objective on Sun Life Financial from C$84.00 to C$85.00 in a report on Wednesday, April 8th. Desjardins set a C$101.00 target price on Sun Life Financial and gave the company a “buy” rating in a research report on Friday, April 17th. National Bank Financial dropped their price target on Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, TD lifted their price target on Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$105.09.

Sun Life Financial Stock Up 2.0%

Shares of TSE:SLF traded up C$2.19 on Wednesday, hitting C$114.09. 509,896 shares of the company’s stock were exchanged, compared to its average volume of 1,939,056. Sun Life Financial has a 1-year low of C$77.38 and a 1-year high of C$114.53. The company has a market capitalization of C$63.24 billion, a PE ratio of 21.25, a P/E/G ratio of 1.33 and a beta of 0.79. The company has a debt-to-equity ratio of 32.51, a quick ratio of 84,866.00 and a current ratio of 6.03. The firm’s 50-day moving average is C$105.00 and its 200 day moving average is C$94.71.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The business had revenue of C$8.73 billion for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. Sell-side analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Activity at Sun Life Financial

In other news, insider Melissa Jane Kennedy sold 7,366 shares of the company’s stock in a transaction on Monday, May 25th. The stock was sold at an average price of C$101.49, for a total value of C$747,575.34. Following the sale, the insider directly owned 13,916 shares in the company, valued at C$1,412,334.84. This represents a 34.61% decrease in their ownership of the stock. Also, insider Helena Janina Pagano sold 17,283 shares of the firm’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.32, for a total transaction of C$1,751,113.56. Following the sale, the insider owned 228 shares in the company, valued at approximately C$23,100.96. This trade represents a 98.70% decrease in their position. Insiders sold a total of 380,998 shares of company stock valued at $38,271,605 in the last ninety days. Company insiders own 0.03% of the company’s stock.

About Sun Life Financial

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.