Insider Selling: Sun Life Financial Inc (SLF) Director Sells 73,000 Shares of Stock

Sun Life Financial Inc (TSE:SLF) (NYSE:SLF) Director Dean Connor sold 73,000 shares of Sun Life Financial stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$52.72, for a total value of C$3,848,560.00. Following the completion of the sale, the director now directly owns 86,047 shares in the company, valued at C$4,536,397.84.

Shares of TSE:SLF traded up C$0.08 on Thursday, hitting C$53.45. 152,260 shares of the company’s stock were exchanged, compared to its average volume of 1,745,988. The stock has a market cap of $31.80 billion and a P/E ratio of 13.07. Sun Life Financial Inc has a 1-year low of C$43.13 and a 1-year high of C$56.09. The company has a debt-to-equity ratio of 18.26, a quick ratio of 451.94 and a current ratio of 483.92.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported C$1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.16 by C$0.03. The business had revenue of C$8.18 billion for the quarter. On average, equities research analysts predict that Sun Life Financial Inc will post 5.43999990080912 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.525 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, May 28th. Sun Life Financial’s dividend payout ratio is currently 47.68%.

A number of equities analysts have weighed in on SLF shares. Cormark lowered their price objective on Sun Life Financial from C$56.00 to C$53.00 in a research note on Tuesday, January 29th. Canaccord Genuity cut their price target on Sun Life Financial from C$53.00 to C$52.00 in a report on Tuesday, February 5th. TD Securities cut their price target on Sun Life Financial from C$60.00 to C$57.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. BMO Capital Markets upped their price target on Sun Life Financial from C$56.00 to C$57.00 in a report on Friday, February 15th. Finally, CIBC downgraded Sun Life Financial from a “neutral” rating to an “underperform” rating and upped their price target for the stock from C$53.00 to C$54.00 in a report on Thursday, March 14th.

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Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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