Sun Life Financial (SLF) Price Target Cut to $56.00

Sun Life Financial (NYSE:SLF) (TSE:SLF) had its target price cut by investment analysts at Morgan Stanley from $57.00 to $56.00 in a note issued to investors on Thursday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 38.85% from the company’s current price.

Other analysts also recently issued reports about the company. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, January 31st. TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday, January 15th. Zacks Investment Research upgraded Sun Life Financial from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, January 10th. Finally, BMO Capital Markets upgraded Sun Life Financial from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Sun Life Financial presently has a consensus rating of “Buy” and an average target price of $53.17.

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NYSE SLF opened at $40.33 on Thursday. The firm has a market capitalization of $24,859.43, a P/E ratio of 12.60, a P/E/G ratio of 1.61 and a beta of 0.91. Sun Life Financial has a twelve month low of $32.22 and a twelve month high of $44.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.06 and a quick ratio of 5.06.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $6.81 billion during the quarter. Sun Life Financial had a return on equity of 12.61% and a net margin of 7.59%. sell-side analysts anticipate that Sun Life Financial will post 3.66 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp boosted its position in Sun Life Financial by 274.3% during the fourth quarter. Mackenzie Financial Corp now owns 7,695,829 shares of the financial services provider’s stock valued at $317,530,000 after acquiring an additional 5,639,723 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Sun Life Financial by 25.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,395,665 shares of the financial services provider’s stock valued at $222,625,000 after acquiring an additional 1,106,844 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Sun Life Financial by 19.8% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,660,200 shares of the financial services provider’s stock valued at $189,891,000 after acquiring an additional 604,900 shares during the last quarter. Scotia Capital Inc. boosted its position in Sun Life Financial by 3.4% during the fourth quarter. Scotia Capital Inc. now owns 2,103,855 shares of the financial services provider’s stock valued at $86,815,000 after acquiring an additional 69,440 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Sun Life Financial by 85.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,719,037 shares of the financial services provider’s stock valued at $70,928,000 after acquiring an additional 793,087 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

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About Sun Life Financial

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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