Barclays Predicts Positive Outlook for Sun Life Financial Stock

Barclays has raised its target price on Sun Life Financial Inc. (TSE:SLF, NYSE:SLF) from C$76.00 to C$79.00 in a report published on Tuesday. This new price target indicates a potential downside of just 0.18% based on the stock's previous closing price.

Other financial research firms have also made recent updates regarding Sun Life Financial. Cormark raised their price target from C$82.00 to C$85.00 in their report issued on Tuesday. Scotiabank increased its price target from C$73.00 to C$85.00 and rated the stock as “outperform” in a note released on October 30th. Meanwhile, Royal Bank of Canada adjusted their price objective from C$76.00 to C$78.00 while also issuing an “outperform” rating on August 14th. On the other hand, Evercore lowered their target from C$76.00 to C$75.00 on July 11th. Additionally, Jefferies Financial Group lifted its target from C$81.00 to C$89.00 and rated the stock as a “buy” in a report on October 16th. Currently, three analysts have given Sun Life Financial a hold rating, while seven experts have recommended the stock as a buy. According to MarketBeat.com, the consensus rating for the company is a “Moderate Buy,” with an average price target of C$81.00.

Sun Life Financial Performance Update

On Tuesday, Sun Life Financial’s shares traded up by 2.2%, rising C$1.69 to reach C$79.14 during the midday session. A total of 621,660 shares changed hands compared to the typical volume of 2,023,379. The company maintains a quick ratio of 84,866.00 and a current ratio of 65.29, contributing to a dependable financial standing. Its market capitalization stands at C$45.62 billion, with a price-to-earnings (P/E) ratio of 15.01. Over the past year, shares of Sun Life Financial have fluctuated between a 12-month low of C$64.38 and a high of C$80.82.

In the latest financial results released on August 12th, Sun Life Financial reported an earnings per share (EPS) of C$1.71, surpassing the analysts' consensus of C$1.58 by C$0.13. The company recorded revenues of C$8.92 billion in the quarter, although this fell short of the anticipated C$9.18 billion. Their return on equity sits at 13.65%, with a net margin of 9.90%. Looking ahead, analysts predict that Sun Life Financial will achieve an EPS of approximately 6.92 for the current fiscal year.

Insider Trading Activity

In recent insider activity, Stephanie Coyles, a director, purchased 500 shares at an average rate of C$70.00 each on August 15th, totaling C$35,000. Following this purchase, she now holds 500 shares valued at the same amount. Contrasting this, senior officer Daniel Fishbein sold 15,999 shares on August 16th for an average price of C$71.40, amounting to about C$1.14 million. Company insiders collectively hold 0.03% of the company's shares.

Company Overview

Sun Life Financial Inc. is a global financial services company that specializes in providing various savings, retirement, and pension products. The company operates in several segments, including Asset Management, Canada, the U.S., Asia, and Corporate. Their offerings encompass a wide range of insurance products, covering term and permanent life, personal health, critical illness, long-term care, disability, and reinsurance services.

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