Sun Life Financial (TSE:SLF) Posts Quarterly Earnings Results

Sun Life Financial (TSE:SLF) (NYSE:SLF) released its quarterly earnings data on Thursday. The financial services provider reported C$2.02 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$9.05 billion for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%.

Sun Life Financial Trading Up 0.8%

TSE:SLF opened at C$115.59 on Friday. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The firm has a 50-day moving average of C$110.68 and a 200-day moving average of C$98.18. The company has a market cap of C$64.07 billion, a PE ratio of 21.53, a PEG ratio of 1.33 and a beta of 0.80. Sun Life Financial has a one year low of C$77.38 and a one year high of C$118.99.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.96 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 27th. Sun Life Financial’s dividend payout ratio is 67.04%.

Analyst Ratings Changes

SLF has been the subject of a number of research analyst reports. TD boosted their target price on Sun Life Financial from C$107.00 to C$121.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. BMO Capital Markets increased their price target on Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. National Bank Financial raised their price objective on Sun Life Financial from C$108.00 to C$125.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Jefferies Financial Group raised their price objective on Sun Life Financial from C$115.00 to C$131.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Evercore downgraded Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price objective for the company. in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$109.36.

Insider Buying and Selling

In other Sun Life Financial news, insider Manjit Singh sold 188,312 shares of Sun Life Financial 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 completion of the transaction, the insider owned 547 shares in the company, valued at approximately C$56,450.40. The trade was a 99.71% decrease in their position. Also, insider Linda Dougherty sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.40, for a total value of C$354,900.00. Insiders have sold a total of 380,998 shares of company stock worth $38,271,605 over the last ninety days. Insiders own 0.03% of the company’s stock.

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.