Sun Life Financial (TSE:SLF) Stock Rating Lowered by Evercore

Sun Life Financial (TSE:SLF) (NYSE:SLF) was downgraded by Evercore from an “outperform” rating to an “in line” rating in a research note issued on Monday,BayStreet.CA reports. They presently have a C$111.00 price objective on the financial services provider’s stock. Evercore’s price objective would indicate a potential upside of 0.10% from the company’s current price.

Several other research analysts also recently commented on the stock. National Bank Financial reduced their price target on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Barclays boosted their price objective on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. TD raised their target price on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group raised their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. Finally, Desjardins set a C$101.00 price target on shares of Sun Life Financial and gave the company a “buy” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$102.45.

Sun Life Financial Trading Down 2.0%

SLF stock traded down C$2.29 during midday trading on Monday, reaching C$110.89. The company’s stock had a trading volume of 777,106 shares, compared to its average volume of 1,953,882. The company has a debt-to-equity ratio of 32.51, a quick ratio of 84,866.00 and a current ratio of 6.03. The stock has a fifty day simple moving average of C$104.50 and a two-hundred day simple moving average of C$94.34. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$114.53. The firm has a market capitalization of C$61.47 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.33 and a beta of 0.79.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The business had revenue of C$8.73 billion during the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. On average, equities research analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Insiders Place Their Bets

In other news, insider Manjit Singh sold 188,312 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the transaction, the insider directly owned 547 shares in the company, valued at approximately C$56,450.40. This trade represents a 99.71% decrease in their ownership of the stock. Also, insider Helena Janina Pagano sold 17,283 shares of Sun Life Financial stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total transaction of C$1,751,113.56. Following the transaction, the insider directly owned 228 shares in the company, valued at approximately C$23,100.96. The trade was a 98.70% decrease in their ownership of the stock. In the last 90 days, insiders have sold 380,998 shares of company stock worth $38,271,605. 0.03% of the stock is 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. Sun Life generates about a third of its profit from asset-management operations.