Sun Life Financial (NYSE:SLF) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price objective increased by Royal Bank Of Canada from $98.00 to $119.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 44.38% from the company’s current price.

SLF has been the topic of a number of other research reports. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Friday. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, July 15th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Sun Life Financial Price Performance

Shares of SLF stock traded up $0.51 during trading hours on Monday, reaching $82.42. The stock had a trading volume of 126,220 shares, compared to its average volume of 673,379. The firm has a market capitalization of $45.94 billion, a PE ratio of 19.27 and a beta of 0.88. The firm has a 50-day simple moving average of $78.88 and a 200-day simple moving average of $71.01. Sun Life Financial has a twelve month low of $56.61 and a twelve month high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.99%. The firm had revenue of $10.10 billion during the quarter, compared to analyst estimates of $994.33 million. On average, equities analysts anticipate that Sun Life Financial will post 5.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new position in Sun Life Financial during the 1st quarter valued at $25,000. Cornerstone Planning Group LLC raised its stake in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $30,000. Sittner & Nelson LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC bought a new position in Sun Life Financial during the first quarter valued at about $33,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Company Profile

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.