TD Securities Issues Pessimistic Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lowered by research analysts at TD Securities from C$101.00 to C$99.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would indicate a potential upside of 20.56% from the company’s current price.

A number of other brokerages have also recently issued reports on SLF. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. National Bank Financial cut shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. CIBC cut shares of Sun Life Financial from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$88.00 to C$94.00 in a research report on Thursday, October 30th. Scotiabank dropped their price objective on Sun Life Financial from C$88.00 to C$83.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. Finally, National Bankshares decreased their target price on Sun Life Financial from C$94.00 to C$93.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$90.00.

Sun Life Financial Price Performance

Sun Life Financial stock opened at C$82.12 on Thursday. 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 firm has a market capitalization of C$45.78 billion, a P/E ratio of 14.56, a PEG ratio of 1.33 and a beta of 0.83. The business has a 50-day moving average of C$83.84 and a 200-day moving average of C$84.72. Sun Life Financial has a 1 year low of C$74.56 and a 1 year high of C$91.11.

Insiders Place Their Bets

In other news, insider Thomas Murphy bought 3,389 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of C$79.37 per share, for a total transaction of C$268,973.75. Following the acquisition, the insider owned 3,389 shares in the company, valued at approximately C$268,973.75. This trade represents a ∞ increase in their ownership of the stock. Over the last three months, insiders have acquired 4,262 shares of company stock valued at $338,105. 0.03% of the stock is currently owned by corporate 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.