Sun Life Financial (TSE:SLF) Insider Manjit Singh Sells 188,312 Shares

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) insider Manjit Singh sold 188,312 shares of Sun Life Financial stock in a transaction on 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 owned 547 shares in the company, valued at C$56,450.40. This represents a 99.71% decrease in their ownership of the stock.

Sun Life Financial Stock 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 PEG ratio of 1.33 and a beta of 0.84. The company’s fifty day moving average is C$97.03 and its two-hundred day moving average is C$90.16.

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 earnings per share (EPS) for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. The company had revenue of C$8.73 billion for the quarter. As a group, equities analysts expect that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, May 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s payout ratio is 67.04%.

Wall Street Analyst Weigh In

SLF has been the topic of several research reports. TD raised their price objective on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the company a “buy” rating in a report on Friday, April 17th. Barclays lifted their target price on shares of Sun Life Financial from C$84.00 to C$85.00 in a report on Wednesday, April 8th. Jefferies Financial Group lifted their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a report on Friday, May 1st. Finally, Scotiabank lifted their target price on shares of Sun Life Financial from C$93.00 to C$96.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial has an average rating of “Moderate Buy” and an average 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.