Sun Life Financial (NYSE:SLF) Price Target Raised to $88.00

Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price target lifted by equities researchers at Argus from $81.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Argus’ price target would indicate a potential upside of 9.64% from the company’s previous close.

SLF has been the subject of several other reports. UBS Group restated a “neutral” rating on shares of Sun Life Financial in a research report on Wednesday. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. Weiss Ratings raised Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. TD Cowen restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Finally, Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Sun Life Financial Trading Up 1.0%

NYSE:SLF opened at $80.27 on Thursday. The company has a market capitalization of $44.69 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.95 and a beta of 0.87. The firm has a 50-day moving average price of $80.39 and a two-hundred day moving average price of $72.99. Sun Life Financial has a twelve month low of $57.22 and a twelve month high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. On average, equities research analysts predict that Sun Life Financial will post 5.72 earnings per share for the current year.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Louisbourg Investments Inc. raised its stake in Sun Life Financial by 3.0% during the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 150 shares during the period. Candriam S.C.A. increased its holdings in shares of Sun Life Financial by 1.8% during the 1st quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after buying an additional 177 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Sun Life Financial by 4.7% in the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock worth $260,000 after buying an additional 187 shares during the period. Sei Investments Co. boosted its holdings in Sun Life Financial by 3.5% in the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 196 shares during the last quarter. Finally, Cumberland Partners Ltd boosted its holdings in Sun Life Financial by 3.2% in the first quarter. Cumberland Partners Ltd now owns 6,678 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.