Sun Life Financial Inc. (TSE:SLF – Get Free Report) (NYSE:SLF)’s stock price hit a new 52-week high on Friday following insider buying activity. The stock traded as high as C$20.25 and last traded at C$98.25, with a volume of 298700 shares. The stock had previously closed at C$98.30.
Specifically, insider Linda Dougherty purchased 6,740 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of C$97.97 per share, with a total value of C$660,317.80. Following the purchase, the insider directly owned 13,480 shares in the company, valued at approximately C$1,320,635.60. This trade represents a 100.00% increase in their position.
Analyst Ratings Changes
Several equities analysts have recently commented on SLF shares. TD upped their price target on Sun Life Financial from C$102.00 to C$107.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on Sun Life Financial from C$83.00 to C$95.00 and gave the company a “sector perform” rating in a research note on Friday, February 13th. Jefferies Financial Group upped their price target on Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. Desjardins set a C$101.00 price target on Sun Life Financial and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, Canadian Imperial Bank of Commerce upped their price target on Sun Life Financial from C$95.00 to C$102.00 in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$101.60.
Sun Life Financial Trading Up 0.7%
The firm has a market cap of C$54.87 billion, a PE ratio of 18.44, a P/E/G ratio of 1.33 and a beta of 0.73. The business has a fifty day moving average price of C$91.57 and a 200 day moving average price of C$87.86.
Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) last issued 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 return on equity of 12.98% and a net margin of 9.12%.The business had revenue of C$8.73 billion for the quarter. On average, research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a dividend yield of 3.9%. Sun Life Financial’s dividend payout ratio is 67.04%.
About Sun Life Financial
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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