Key Points
- Director Kevin Strain sold a large block of Sun Life Financial shares, disposing of 104,744 shares on May 12 for about C$10.16 million at an average price of C$96.99. After the sale, he still held 42,000 shares, cutting his ownership by 71.38%.
- Sun Life recently raised its quarterly dividend to C$0.96 per share from C$0.92, putting the annualized payout at C$3.84 and the yield at about 4.0%. The dividend is payable on June 30, with the ex-dividend date set for May 27.
- Analysts remain generally positive on the stock, with several firms lifting price targets and the consensus rating standing at “Moderate Buy.” The average target price is C$101.60, above the stock’s recent trading level around C$97.
Sun Life Financial Inc. (TSE:SLF - Get Free Report) (NYSE:SLF) Director Kevin Strain sold 2,935 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$96.55, for a total value of C$283,374.25. Following the completion of the sale, the director directly owned 42,000 shares of the company's stock, valued at approximately C$4,055,100. This represents a 6.53% decrease in their position.
Kevin Strain also recently made the following trade(s):
- On Tuesday, May 12th, Kevin Strain sold 104,744 shares of Sun Life Financial stock. The shares were sold at an average price of C$96.99, for a total transaction of C$10,159,120.56.
Sun Life Financial Stock Up 0.3%
Shares of Sun Life Financial stock opened at C$97.01 on Thursday. The company has a 50 day moving average price of C$91.18 and a 200 day moving average price of C$87.70. The firm has a market capitalization of C$53.75 billion, a P/E ratio of 18.07, a PEG ratio of 1.33 and a beta of 0.73. Sun Life Financial Inc. has a 52 week low of C$77.38 and a 52 week high of C$101.15.
Sun Life Financial (TSE:SLF - Get Free Report) (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. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. The company had revenue of C$8.73 billion for the quarter. As a group, research analysts anticipate that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 4.0%. Sun Life Financial's payout ratio is presently 67.04%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. TD Securities reduced their target price on Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. BMO Capital Markets boosted their price target on Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. Scotiabank increased their price objective on Sun Life Financial from C$93.00 to C$96.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. Desjardins set a C$101.00 price objective on Sun Life Financial and gave the stock a "buy" rating in a research note on Friday, April 17th. Finally, Barclays lifted their target price on Sun Life Financial from C$84.00 to C$85.00 in a report on Wednesday, April 8th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of C$101.60.
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Sun Life Financial Company Profile
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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.
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