Kevin Strain Sells 2,935 Shares of Sun Life Financial (TSE:SLF) Stock

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) Director Kevin Strain sold 2,935 shares of the business’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 transaction, the director owned 42,000 shares in the company, 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 stock was sold at an average price of C$96.99, for a total value of C$10,159,120.56.

Sun Life Financial Price Performance

Shares of SLF opened at C$98.30 on Friday. The stock’s 50-day moving average is C$91.38 and its two-hundred day moving average is C$87.78. The stock has a market cap of C$54.47 billion, a PE ratio of 18.31, a P/E/G ratio of 1.33 and a beta of 0.73. Sun Life Financial Inc. has a 12 month low of C$77.38 and a 12 month high of C$101.15.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. The company 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%. On average, research analysts anticipate that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.96 per share. This is a boost 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 3.9%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial’s payout ratio is presently 67.04%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Desjardins set a C$101.00 price target on Sun Life Financial and gave the stock a “buy” rating in a research note on Friday, April 17th. Barclays boosted their price target on Sun Life Financial from C$84.00 to C$85.00 in a research note on Wednesday, April 8th. Canadian Imperial Bank of Commerce boosted their price target on Sun Life Financial from C$95.00 to C$102.00 in a research note on Friday, May 8th. 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. Finally, Jefferies Financial Group boosted their price target on Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$101.60.

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.