Insider Buying: Sun Life Financial (TSE:SLF) Director Buys 200 Shares of Stock

Key Points

• Kevin Strain, a director at Sun Life Financial, purchased 200 shares at C$79.09, increasing his total holdings to 42,000 shares valued at approximately C$3.32 million.
• Sun Life Financial has declared a quarterly dividend of $0.88 per share, with an annualized yield of 4.3%, payable on September 29.
• Analysts have downgraded their target prices for the stock, with Royal Bank of Canada reducing it from C$88.00 to C$84.00, indicating a cautious outlook for the company's share performance.

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF Director Kevin Strain purchased 200 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of C$79.09 per share, with a total value of C$15,818.00. Following the completion of the transaction, the director directly owned 42,000 shares of the company's stock, valued at C$3,321,780. The trade was a 0.48% increase in their position.

Sun Life Financial Stock Performance

Shares of SLF traded up C$0.40 on Tuesday, reaching C$81.13. 383,156 shares of the company's stock traded hands, compared to its average volume of 2,117,789. The stock has a market cap of C$45.60 billion, a PE ratio of 14.38, a PEG ratio of 1.33 and a beta of 0.87. The stock's 50 day simple moving average is C$83.10 and its two-hundred day simple moving average is C$83.28. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. Sun Life Financial Inc. has a 52-week low of C$74.03 and a 52-week high of C$91.11.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 27th. This represents a $3.52 annualized dividend and a yield of 4.3%. Sun Life Financial's dividend payout ratio is presently 59.75%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada decreased their target price on Sun Life Financial from C$88.00 to C$84.00 in a research report on Monday, August 11th. Scotiabank decreased their target price on Sun Life Financial from C$88.00 to C$83.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Barclays downgraded Sun Life Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, July 7th. National Bankshares lowered Sun Life Financial from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$93.00 to C$87.00 in a report on Friday, August 8th. Finally, National Bank Financial lowered Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Life Financial presently has an average rating of "Moderate Buy" and an average target price of C$86.67.

About Sun Life Financial

Sun Life Financial is one of Canada's Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.

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