Sun Life Financial Inc (TSE:SLF) Declares Dividend Increase – $0.55 Per Share

Sun Life Financial Inc (TSE:SLF) (NYSE:SLF) announced a quarterly dividend on Wednesday, November 6th, RTT News reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.55 per share by the financial services provider on Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 3.63%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.53.

SLF traded up C$0.61 during trading hours on Wednesday, hitting C$60.66. 1,504,082 shares of the company’s stock were exchanged, compared to its average volume of 1,465,086. Sun Life Financial has a 12-month low of C$43.13 and a 12-month high of C$60.72. The firm has a 50 day moving average of C$58.62 and a 200 day moving average of C$55.32. The firm has a market cap of $34.98 billion and a P/E ratio of 15.43. The company has a current ratio of 10,847.75, a quick ratio of 10,082.25 and a debt-to-equity ratio of 16.62.

Several brokerages recently weighed in on SLF. CIBC cut their target price on shares of Sun Life Financial from C$54.00 to C$53.00 in a research note on Friday, August 2nd. TD Securities cut their target price on shares of Sun Life Financial from C$61.00 to C$60.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Evercore set a C$63.00 target price on shares of Sun Life Financial and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Evercore ISI reaffirmed an “outperform” rating and set a C$63.00 target price on shares of Sun Life Financial in a research note on Monday, July 22nd. Finally, National Bank Financial upped their target price on shares of Sun Life Financial from C$59.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$58.36.

In other Sun Life Financial news, Senior Officer Mark Saunders sold 6,206 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$53.00, for a total value of C$328,918.00. Following the sale, the insider now directly owns 35,766 shares of the company’s stock, valued at approximately C$1,895,598. Also, Director Dean Connor sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$52.30, for a total transaction of C$1,045,952.00. Following the completion of the sale, the director now directly owns 142,211 shares in the company, valued at C$7,437,293.99. Over the last ninety days, insiders have sold 66,309 shares of company stock worth $3,676,512.

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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Dividend History for Sun Life Financial (TSE:SLF)

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