Key Points
- Insider selling: Sun Life Financial insider Manjit Singh sold 188,312 shares at C$103.20 each, totaling about C$19.4 million. After the transaction, the insider’s remaining stake fell by 99.71%.
- Dividend increase: The company raised its quarterly dividend to C$0.96 per share from C$0.92. That works out to an annualized dividend of C$3.84 and a yield of about 3.6%.
- Stock and analyst outlook: Sun Life shares recently traded near their 52-week high at C$105.84, with analysts maintaining a Moderate Buy consensus and an average price target of C$101.60. The company also reported quarterly EPS of C$1.89 on revenue of C$8.73 billion.
Sun Life Financial Inc. (TSE:SLF - Get Free Report) (NYSE:SLF) insider Manjit Singh sold 188,312 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the sale, the insider directly owned 547 shares in the company, valued at approximately C$56,450.40. This represents a 99.71% decrease in their position.
Sun Life Financial Price Performance
Shares of Sun Life Financial stock opened at C$105.84 on Friday. Sun Life Financial Inc. has a 1 year low of C$77.38 and a 1 year high of C$106.52. The company has a market capitalization of C$58.66 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.33 and a beta of 0.84. The business has a 50 day moving average price of C$97.03 and a 200 day moving average price of C$90.16.
Sun Life Financial (TSE:SLF - Get Free Report) (NYSE:SLF) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The business had revenue of C$8.73 billion for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. As a group, research analysts expect that Sun Life Financial Inc. will post 6.9230769 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 3.6%. Sun Life Financial's payout ratio is currently 67.04%.
Analyst Ratings Changes
Several equities analysts recently commented on SLF shares. Scotiabank upped their price target on shares of Sun Life Financial from C$93.00 to C$96.00 and gave the stock a "sector perform" rating in a research report on Friday, February 13th. National Bank Financial dropped their price target on shares of Sun Life Financial from C$109.00 to C$108.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price target on shares of Sun Life Financial from C$95.00 to C$102.00 in a research report on Friday, May 8th. TD Securities dropped their price target on shares of Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Finally, Barclays upped their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$101.60.
Check Out Our Latest Report on Sun Life Financial
Sun Life Financial Company Profile
(
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.
Further Reading
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