Key Points
- Insider sale: Sun Life Financial insider Helena Janina Pagano sold 17,283 shares for about C$1.75 million, cutting her direct stake by roughly 98.7%.
- Dividend increase: The company raised its quarterly dividend to C$0.96 per share from C$0.92, implying an annualized yield of about 3.9%.
- Analyst sentiment remains positive: Recent broker updates have mostly been constructive, with Sun Life carrying a Moderate Buy consensus rating and an average price target of C$101.60.
Sun Life Financial Inc. (TSE:SLF - Get Free Report) (NYSE:SLF) insider Linda Dougherty sold 3,500 shares of the business's stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.40, for a total value of C$354,900.00.
Linda Dougherty also recently made the following trade(s):
- On Thursday, May 14th, Linda Dougherty purchased 6,740 shares of Sun Life Financial stock. The stock was bought at an average price of C$97.97 per share, for a total transaction of C$660,317.80.
- On Wednesday, May 13th, Linda Dougherty sold 5,000 shares of Sun Life Financial stock. The shares were sold at an average price of C$97.01, for a total value of C$485,050.00.
- On Wednesday, May 13th, Linda Dougherty sold 5,118 shares of Sun Life Financial stock. The shares were sold at an average price of C$96.49, for a total value of C$493,835.82.
Sun Life Financial Stock Down 1.3%
Shares of SLF stock opened at C$99.17 on Friday. The stock has a market capitalization of C$54.95 billion, a PE ratio of 18.47, a price-to-earnings-growth 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$101.94. The stock's 50-day moving average price is C$93.93 and its 200 day moving average price is C$88.80.
Sun Life Financial (TSE:SLF - Get Free Report) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The firm had revenue of C$8.73 billion for the quarter. Sun Life Financial had a return on equity of 12.98% and a net margin of 9.12%. Analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a $0.96 dividend. This is a boost from Sun Life Financial's previous quarterly dividend of $0.92. The ex-dividend date is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 3.9%. Sun Life Financial's payout ratio is presently 67.04%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Sun Life Financial from C$99.00 to C$105.00 in a research report on Friday, May 8th. Barclays boosted their target price on Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. Canadian Imperial Bank of Commerce boosted their target price on Sun Life Financial from C$95.00 to C$102.00 in a research report on Friday, May 8th. TD boosted their target price on 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. Finally, TD Securities dropped their target price on Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$101.60.
Check Out Our Latest Report on Sun Life Financial
About Sun Life Financial
(
Get Free Report)
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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