Sun Life Financial (NYSE:SLF) Price Target Cut to C$68.00 by Analysts at National Bank Financial

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) had its price target cut by equities researchers at National Bank Financial from C$72.00 to C$68.00 in a research note issued to investors on Wednesday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. TD Securities decreased their price objective on shares of Sun Life Financial from C$72.00 to C$68.00 in a research report on Wednesday. BMO Capital Markets cut their target price on shares of Sun Life Financial from C$80.00 to C$75.00 in a research note on Friday, May 13th. Zacks Investment Research restated a “hold” rating on shares of Sun Life Financial in a research note on Thursday, March 17th. Desjardins cut their target price on shares of Sun Life Financial from C$77.00 to C$73.00 in a research note on Monday, May 16th. Finally, StockNews.com assumed coverage on shares of Sun Life Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sun Life Financial currently has an average rating of “Hold” and a consensus target price of $70.38.

NYSE:SLF traded up $0.60 on Wednesday, reaching $49.41. The stock had a trading volume of 38,530 shares, compared to its average volume of 888,015. The company has a 50-day moving average of $51.93 and a 200 day moving average of $53.82. The stock has a market cap of $28.96 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. Sun Life Financial has a 12-month low of $46.23 and a 12-month high of $58.49.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last posted its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $300.00 million during the quarter. Sun Life Financial had a net margin of 11.38% and a return on equity of 13.66%. As a group, equities analysts predict that Sun Life Financial will post 4.83 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Yousif Capital Management LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $505,000. Janney Montgomery Scott LLC increased its stake in shares of Sun Life Financial by 11.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,364 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 1,822 shares during the period. Sandy Cove Advisors LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $116,000. CLARET ASSET MANAGEMENT Corp increased its stake in shares of Sun Life Financial by 4.7% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 11,417 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 510 shares during the period. Finally, Pictet Asset Management SA boosted its holdings in shares of Sun Life Financial by 94.5% in the fourth quarter. Pictet Asset Management SA now owns 439,928 shares of the financial services provider’s stock valued at $24,522,000 after acquiring an additional 213,717 shares in the last quarter. Institutional investors own 47.14% of the company’s stock.

About Sun Life Financial (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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