TD Securities Issues Pessimistic Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective dropped by TD Securities from C$101.00 to C$99.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would indicate a potential upside of 18.15% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Scotiabank decreased their target price on shares of Sun Life Financial from C$88.00 to C$83.00 and set a “sector perform” rating for the company in a report on Monday, August 11th. National Bankshares reduced their price objective on shares of Sun Life Financial from C$94.00 to C$93.00 in a research note on Thursday. Royal Bank Of Canada lowered their price target on shares of Sun Life Financial from C$88.00 to C$84.00 in a report on Monday, August 11th. National Bank Financial lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Finally, CIBC downgraded shares of Sun Life Financial from an “outperform” rating to a “neutral” rating and upped their price target for the stock from C$88.00 to C$94.00 in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$90.13.

Sun Life Financial Stock Performance

Shares of SLF stock traded down C$3.24 during trading hours on Thursday, reaching C$83.79. The stock had a trading volume of 1,176,468 shares, compared to its average volume of 2,011,944. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. Sun Life Financial has a twelve month low of C$74.56 and a twelve month high of C$91.11. The firm has a 50-day simple moving average of C$83.74 and a 200-day simple moving average of C$84.71. The firm has a market capitalization of C$46.96 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.33 and a beta of 0.83.

Insiders Place Their Bets

In other Sun Life Financial news, insider Thomas Murphy bought 3,389 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of C$79.37 per share, with a total value of C$268,973.75. Following the completion of the purchase, the insider owned 3,389 shares in the company, valued at C$268,973.75. The trade was a ∞ increase in their ownership of the stock. Insiders have bought a total of 4,262 shares of company stock worth $338,105 over the last three months. Corporate 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.