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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target upped by equities researchers at Canadian Imperial Bank of Commerce from C$102.00 to C$116.00 in a research note issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 1.67% from the stock’s current price.

Several other equities analysts also recently weighed in on SLF. Evercore downgraded Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 target price for the company. in a research report on Monday. BMO Capital Markets raised their price objective on shares of Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. Desjardins set a C$101.00 price objective on shares of Sun Life Financial and gave the company a “buy” rating in a report on Friday, April 17th. Jefferies Financial Group upped their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. Finally, TD increased their target price on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$105.09.

Sun Life Financial Trading Up 2.0%

TSE:SLF traded up C$2.19 during trading hours on Wednesday, reaching C$114.09. 509,896 shares of the stock were exchanged, compared to its average volume of 1,939,056. Sun Life Financial has a twelve month low of C$77.38 and a twelve month high of C$114.53. The business has a 50-day moving average of C$105.00 and a two-hundred day moving average of C$94.71. The company has a market capitalization of C$63.24 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.33 and a beta of 0.79. The company has a quick ratio of 84,866.00, a current ratio of 6.03 and a debt-to-equity ratio of 32.51.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data 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 during the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. On average, equities analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Buying and Selling at Sun Life Financial

In related news, insider Melissa Jane Kennedy sold 7,366 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of C$101.49, for a total transaction of C$747,575.34. Following the sale, the insider directly owned 13,916 shares in the company, valued at approximately C$1,412,334.84. This represents a 34.61% decrease in their ownership of the stock. Also, insider Manjit Singh sold 188,312 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the completion of the sale, the insider directly owned 547 shares in the company, valued at approximately C$56,450.40. This trade represents a 99.71% decrease in their position. In the last 90 days, insiders sold 380,998 shares of company stock valued at $38,271,605. 0.03% of the stock is currently owned by company insiders.

Sun Life Financial Company Profile

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.