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

Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price objective upped by Royal Bank of Canada from $82.00 to $88.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 40.82% from the stock’s previous close.

Several other research firms have also recently weighed in on SLF. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Scotiabank reiterated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, May 1st. Finally, National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Sun Life Financial Stock Up 0.0%

Shares of Sun Life Financial stock opened at $62.49 on Monday. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $63.34. The business has a fifty day simple moving average of $57.21 and a 200 day simple moving average of $58.11. The stock has a market cap of $35.46 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. Analysts expect that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. boosted its stake in shares of Sun Life Financial by 3.4% during the 1st quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 167 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of Sun Life Financial by 1.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 180 shares during the period. Private Advisor Group LLC boosted its position in shares of Sun Life Financial by 2.1% in the fourth quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 181 shares during the period. HighPoint Advisor Group LLC raised its stake in Sun Life Financial by 4.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 181 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Sun Life Financial by 5.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,719 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.