CIBC Raises Sun Life Financial (TSE:SLF) Price Target to C$80.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price upped by stock analysts at CIBC from C$77.00 to C$80.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. CIBC’s price target suggests a potential upside of 13.57% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Scotiabank increased their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a research report on Tuesday, February 6th. TD Securities raised their price target on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Desjardins raised their price target on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$76.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, Evercore 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 Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$77.18.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded down C$0.08 during midday trading on Tuesday, hitting C$70.44. The company had a trading volume of 512,670 shares, compared to its average volume of 1,797,053. The stock has a market cap of C$41.03 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.25 and a beta of 0.96. The company has a quick ratio of 84,866.00, a current ratio of 6.81 and a debt-to-equity ratio of 78.47. The company has a fifty day simple moving average of C$72.55 and a 200 day simple moving average of C$69.66. Sun Life Financial has a 12-month low of C$61.84 and a 12-month high of C$74.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported C$1.68 EPS for the quarter, beating the consensus estimate of C$1.59 by C$0.09. The firm had revenue of C$18.68 billion during the quarter. Sun Life Financial had a net margin of 10.26% and a return on equity of 13.98%. As a group, analysts predict that Sun Life Financial will post 6.9036382 earnings per share for the current fiscal year.

Insider Activity at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of Sun Life Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$74.45, for a total value of C$1,191,120.00. 0.03% of the stock is owned by corporate insiders.

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.