Sagicor Financial (TSE:SFC) Shares Down 1% – Here’s Why

Shares of Sagicor Financial Company Ltd. (TSE:SFC) were down 1% on Tuesday . The stock traded as low as C$8.61 and last traded at C$8.66. 12,440 shares traded hands during trading, a decline of 81% from the average daily volume of 66,877 shares. The stock had previously closed at C$8.75.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$13.00 target price on Sagicor Financial and gave the company an “outperform” rating in a research report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$11.33.

Sagicor Financial Stock Down 1.0%

The firm has a market cap of C$1.18 billion, a price-to-earnings ratio of 49.20 and a beta of -0.10. The company’s 50-day moving average price is C$8.43 and its 200-day moving average price is C$9.11.

Sagicor Financial (TSE:SFC) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.26 earnings per share for the quarter. The firm had revenue of C$791.91 million during the quarter. Sagicor Financial had a net margin of 1.25% and a return on equity of 2.58%. Analysts predict that Sagicor Financial Company Ltd. will post 0.9578783 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Alan Kenneth Ryder acquired 20,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of C$8.55 per share, for a total transaction of C$171,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately C$855,000. This represents a 25.00% increase in their ownership of the stock. In the last ninety days, insiders purchased 24,400 shares of company stock worth $206,900. 34.21% of the stock is currently owned by insiders.

Sagicor Financial Company Profile

Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider with over 185 years of history in the Caribbean, over 90 years of history in Canada, and over 70 years of history in the United States. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate. Sagicor’s registered office is located at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St.