Sun Life Financial Sees Large Volume Increase Following Dividend Announcement (SLF)
Sun Life Financial (NYSE:SLF) saw unusually-strong trading volume on Friday after the company announced a dividend, StockRatingsNetwork.com reports. Approximately 338,230 shares traded hands during trading, an increase of 85% from the previous session’s volume of 182,886 shares.The stock last traded at $36.97 and had previously closed at $36.72.
The newly announced dividend is scheduled for Tuesday, September 30th. Stockholders of record on Wednesday, August 27th will be paid a dividend of $0.3298 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, August 25th.
A number of analysts have recently weighed in on SLF shares. Analysts at National Bank Financial downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Friday. Separately, analysts at Goldman Sachs initiated coverage on shares of Sun Life Financial in a research note on Thursday, June 26th. They set a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Sun Life Financial in a research note on Monday, May 26th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $36.67.
The stock’s 50-day moving average is $37.38 and its 200-day moving average is $35.05. The company has a market cap of $22.367 billion and a price-to-earnings ratio of 28.78.
Sun Life Financial (NYSE:SLF) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $0.11. On average, analysts predict that Sun Life Financial will post $2.90 earnings per share for the current fiscal year.
Sun Life Financial Inc (NYSE:SLF) is an international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.
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