Sagicor Financial (TSE:SFC) Price Target Lowered to C$8.50 at Royal Bank of Canada

Sagicor Financial (TSE:SFC - Free Report) had its price target cut by Royal Bank of Canada from C$9.00 to C$8.50 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, Scotiabank lowered their target price on shares of Sagicor Financial from C$10.00 to C$9.00 and set an outperform rating for the company in a research note on Friday.

Sagicor Financial Price Performance

Shares of SFC traded up C$0.02 on Tuesday, reaching C$6.11. 8,800 shares of the company's stock were exchanged, compared to its average volume of 8,462. The stock has a market cap of C$861.94 million, a PE ratio of 1.38 and a beta of 0.21. The stock's 50 day simple moving average is C$6.25. Sagicor Financial has a 12 month low of C$4.25 and a 12 month high of C$7.41.

Sagicor Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th will be issued a $0.083 dividend. This represents a $0.33 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Tuesday, August 27th. Sagicor Financial's dividend payout ratio (DPR) is presently 7.47%.

Insider Activity

In related news, Director Gilbert Samuel Palter purchased 7,200 shares of Sagicor Financial stock in a transaction dated Tuesday, June 18th. The stock was bought at an average price of C$6.50 per share, for a total transaction of C$46,800.00. Corporate insiders own 33.94% of the company's stock.

Sagicor Financial Company Profile

Sagicor Financial Company Ltd., together with its subsidiaries, provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States. It operates through three segments: Sagicor Jamaica, Sagicor Life, and Sagicor Life USA. The company offers life and health insurance products; employee benefits, including group health and group life benefits; and annuities, asset management, and property and casualty insurance.