CIBC Cuts Sun Life Financial (TSE:SLF) Price Target to C$93.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target reduced by CIBC from C$94.00 to C$93.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 13.25% from the stock’s previous close.

SLF has been the subject of several other research reports. Argus raised Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Royal Bank Of Canada dropped their target price on shares of Sun Life Financial from C$88.00 to C$84.00 in a report on Monday, August 11th. National Bank Financial lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Desjardins lifted their price target on shares of Sun Life Financial from C$90.00 to C$94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, National Bankshares cut their price objective on Sun Life Financial from C$94.00 to C$93.00 in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial presently has an average rating of “Hold” and an average price target of C$90.00.

Sun Life Financial Price Performance

SLF traded down C$1.29 during trading on Friday, reaching C$82.12. The stock had a trading volume of 2,653,805 shares, compared to its average volume of 2,027,613. The stock has a 50 day moving average of C$83.80 and a two-hundred day moving average of C$84.70. The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. The firm has a market capitalization of C$46.03 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.33 and a beta of 0.83. Sun Life Financial has a 1-year low of C$74.56 and a 1-year high of C$91.11.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, insider Thomas Murphy bought 3,389 shares of Sun Life Financial stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of C$79.37 per share, for a total transaction of C$268,973.75. Following the completion of the acquisition, the insider directly owned 3,389 shares of the company’s stock, valued at approximately C$268,973.75. This trade represents a ∞ increase in their ownership of the stock. Over the last 90 days, insiders have acquired 4,262 shares of company stock worth $338,105. 0.03% of the stock is owned by 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.