Insider Selling: Sun Life Financial Inc. (TSE:SLF) Director Sells 85,943 Shares of Stock

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF Director Kevin Strain sold 85,943 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$84.71, for a total value of C$7,280,231.53.

Sun Life Financial Stock Down 1.2 %

SLF stock traded down C$1.07 during mid-day trading on Friday, hitting C$84.88. 2,657,183 shares of the company were exchanged, compared to its average volume of 2,019,266. The firm has a fifty day simple moving average of C$78.34 and a 200 day simple moving average of C$72.22. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. Sun Life Financial Inc. has a twelve month low of C$64.38 and a twelve month high of C$86.39. The company has a market capitalization of C$48.93 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, beating analysts' consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The firm had revenue of C$8.92 billion for the quarter, compared to the consensus estimate of C$9.18 billion. On average, research analysts forecast that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.81. This represents a $3.36 dividend on an annualized basis and a yield of 3.96%. Sun Life Financial's dividend payout ratio is presently 61.36%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. National Bankshares raised their target price on Sun Life Financial from C$72.00 to C$73.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 13th. CIBC lifted their target price on Sun Life Financial from C$90.00 to C$96.00 in a report on Wednesday. Royal Bank of Canada boosted their price objective on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on Sun Life Financial from C$90.00 to C$94.00 in a research report on Thursday. Finally, Cormark upped their price target on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$84.18.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.