Barclays Reiterates C$76.00 Price Target for Sun Life Financial (TSE:SLF)

Sun Life Financial (TSE:SLF) (NYSE:SLF) has been assigned a C$76.00 target price by stock analysts at Barclays in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 2.16% from the company’s previous close.

SLF has been the topic of several other reports. Jefferies Financial Group upped their price target on Sun Life Financial from C$78.00 to C$81.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Scotiabank lowered their price objective on shares of Sun Life Financial from C$76.00 to C$73.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. TD Securities cut their target price on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, BMO Capital Markets lowered their target price on Sun Life Financial from C$80.00 to C$79.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy” and an average target price of C$76.09.

Sun Life Financial Stock Down 0.7 %

SLF traded down C$0.50 during trading on Thursday, hitting C$74.39. The company had a trading volume of 296,477 shares, compared to its average volume of 2,125,944. Sun Life Financial has a 1-year low of C$61.84 and a 1-year high of C$75.23. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The company has a market cap of C$42.97 billion, a PE ratio of 14.09, a P/E/G ratio of 1.25 and a beta of 0.93. The business has a 50-day moving average of C$69.25 and a 200-day moving average of C$70.26.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. The business had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. As a group, analysts forecast that Sun Life Financial will post 6.642596 earnings per share for the current year.

Insider Activity

In related news, Director Stephanie Coyles purchased 500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at C$35,000. In related news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles bought 500 shares of Sun Life Financial stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately C$35,000. Corporate insiders own 0.03% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.