Insider Selling: Sun Life Financial (TSE:SLF) Director Sells C$11,261,158.80 in Stock

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) Director Kevin Strain sold 101,580 shares of Sun Life Financial stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of C$110.86, for a total value of C$11,261,158.80. Following the transaction, the director owned 42,000 shares in the company, valued at C$4,656,120. This trade represents a 70.75% decrease in their position.

Kevin Strain also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Strain sold 1 shares of Sun Life Financial stock. The stock was sold at an average price of C$111.37, for a total transaction of C$111.37.

Sun Life Financial Stock Performance

Shares of SLF traded up C$0.80 during trading hours on Friday, hitting C$112.09. The company had a trading volume of 1,405,677 shares, compared to its average volume of 1,986,889. The firm has a market cap of C$62.40 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.33 and a beta of 0.70. The company has a quick ratio of 84,866.00, a current ratio of 27.38 and a debt-to-equity ratio of 34.34. Sun Life Financial Inc. has a 12 month low of C$79.36 and a 12 month high of C$118.99. The business has a fifty day moving average of C$112.80 and a 200-day moving average of C$101.49.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported C$2.02 earnings per share (EPS) for the quarter. The firm had revenue of C$9.05 billion during the quarter. Sun Life Financial had a net margin of 8.81% and a return on equity of 13.89%. Equities analysts anticipate that Sun Life Financial Inc. will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 annualized dividend and a yield of 3.4%. Sun Life Financial’s dividend payout ratio (DPR) is presently 62.37%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLF. Desjardins upped their target price on shares of Sun Life Financial from C$120.00 to C$122.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Evercore lowered 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. TD increased their price objective on Sun Life Financial from C$121.00 to C$124.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Scotia raised their target price on Sun Life Financial from C$110.00 to C$118.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Jefferies Financial Group upped their price target on Sun Life Financial from C$131.00 to C$141.00 in a report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial currently has an average rating of “Hold” and an average target price of C$116.00.

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.