Scotiabank Has Lowered Expectations for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price decreased by investment analysts at Scotiabank from C$88.00 to C$83.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 4.57% from the stock’s current price.

A number of other research firms also recently issued reports on SLF. National Bankshares downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$93.00 to C$87.00 in a research note on Friday, August 8th. CIBC cut their target price on shares of Sun Life Financial from C$94.00 to C$89.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. TD Securities upped their price target on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Royal Bank Of Canada lowered their price objective on shares of Sun Life Financial from C$88.00 to C$84.00 in a research report on Monday. Finally, Desjardins reduced their target price on shares of Sun Life Financial from C$95.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and an average price target of C$86.67.

Sun Life Financial Trading Up 1.2%

Shares of SLF stock opened at C$79.37 on Monday. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. The stock has a market capitalization of C$45.34 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 12-month low of C$67.80 and a 12-month high of C$91.11. The stock’s 50-day moving average price is C$86.24 and its 200-day moving average price is C$83.47.

Insider Activity

In other Sun Life Financial news, Director Kevin Strain bought 3,850 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of C$89.10 per share, with a total value of C$343,035.00. Also, Senior Officer Stephen Peacher sold 80,048 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$87.70, for a total value of C$7,020,209.60. Over the last 90 days, insiders have sold 161,909 shares of company stock valued at $14,216,427. 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.