Sun Life Financial (NYSE:SLF) PT Raised to $60.50 at Canaccord Genuity

Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price target increased by stock analysts at Canaccord Genuity from $58.00 to $60.50 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Canaccord Genuity’s price objective would indicate a potential upside of 30.81% from the company’s current price.

Several other brokerages also recently issued reports on SLF. National Bank Financial downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Barclays raised their price objective on shares of Sun Life Financial from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. ValuEngine downgraded shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets set a $60.00 price objective on shares of Sun Life Financial and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, CIBC raised their price objective on shares of Sun Life Financial from $53.00 to $59.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $59.15.

Shares of NYSE:SLF opened at $46.25 on Friday. Sun Life Financial has a 52-week low of $31.49 and a 52-week high of $47.02. The company has a market capitalization of $27.04 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The company has a 50-day simple moving average of $44.52 and a 200 day simple moving average of $41.79.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.40. The firm had revenue of $7.28 billion during the quarter. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. During the same quarter last year, the business earned $1.20 earnings per share. Equities research analysts anticipate that Sun Life Financial will post 3.78 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Beutel Goodman & Co Ltd. increased its stake in Sun Life Financial by 101.6% in the second quarter. Beutel Goodman & Co Ltd. now owns 28,635,836 shares of the financial services provider’s stock valued at $1,143,296,000 after acquiring an additional 14,428,268 shares during the last quarter. Vanguard Group Inc. increased its stake in Sun Life Financial by 0.5% in the second quarter. Vanguard Group Inc. now owns 16,797,644 shares of the financial services provider’s stock valued at $694,750,000 after acquiring an additional 80,306 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Sun Life Financial by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,097,374 shares of the financial services provider’s stock valued at $294,535,000 after acquiring an additional 92,849 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Sun Life Financial by 13.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,860,414 shares of the financial services provider’s stock valued at $201,707,000 after acquiring an additional 575,638 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Sun Life Financial by 13.9% in the second quarter. Scotia Capital Inc. now owns 2,794,966 shares of the financial services provider’s stock valued at $115,559,000 after acquiring an additional 340,501 shares during the last quarter. 40.34% of the stock is currently owned by institutional investors and hedge funds.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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