Sun Life Financial Inc. (NYSE: SLF) increases dividend to $ 0.44 per share
Sun Life Financial Inc. (NYSE: SLF) (TSE: SLF) declared a quarterly dividend on Wednesday, November 3, Zacks reports. Investors of record on Wednesday, November 24 will receive a dividend of 0.444 per share from the financial services provider on Friday, December 31. This represents an annualized dividend of $ 1.78 and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 23. This is an increase from Sun Life Financial’s previous quarterly dividend of $ 0.44.
Sun Life Financial has increased its dividend by 22.4% over the past three years. Sun Life Financial has a payout ratio of 35.3%, which means its dividend is sufficiently covered by earnings. Analysts expect Sun Life Financial to earn $ 5.08 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.72 with a rate of. expected future distribution of 33.9%.
Shares of Sun Life Financial opened at $ 57.02 on Friday. The company has a market cap of $ 38.65 billion, a P / E ratio of 12.91, a PEG ratio of 1.37 and a beta of 1.05. The company has a 50-day moving average price of $ 53.55 and a 200-day moving average price of $ 52.82. Sun Life Financial has a 52-week low of $ 42.43 and a 52-week high of $ 57.93.
Sun Life Financial (NYSE: SLF) (TSE: SLF) last reported quarterly results on Wednesday, August 4. The financial services provider reported EPS of $ 1.22 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.16 by $ 0.06. The company reported sales of $ 10.31 billion in the quarter. Sun Life Financial had a net margin of 9.51% and a return on equity of 14.05%. As a group, analysts predict Sun Life Financial will post 4.66 EPS for the current year.
Several brokerages recently commented on the SLF. TD Securities lowered its price target for Sun Life Financial shares from C $ 75 to C $ 73.00 and established a “buy” rating for the company in a research report on Thursday August 5th. National Bank Financial increased its price target for Sun Life Financial shares from C $ 71.00 to C $ 73.00 and rated the stock “outperform” in a report released on Tuesday. October 5. BMO Capital Markets raised its price target for Sun Life Financial shares from C $ 75 to C $ 76.00 and rated the stock “outperform” in a report released on Tuesday, October 5 . Zacks Investment Research has upgraded Sun Life Financial shares from a “sell” to a “conservation” rating and set a target price of $ 60.00 on the stock in a report released on Thursday 21 October. Finally, Royal Bank of Canada raised its target price on Sun Life Financial shares from $ 71.00 to $ 74.00 and assigned the stock a “sector performance” rating in a report released Friday. One investment analyst gave the stock a sell rating, two assigned a conservation rating, and eight assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $ 69.09.
In other news, major shareholder Life Assurance Co of Canad Sun acquired 440,000 shares of the company in a transaction dated Thursday, September 30. The shares were purchased at an average price of $ 25.00 per share, for a total value of $ 11,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available on the SEC’s website.
About Sun Life Financial
Sun Life Financial, Inc. operates as a holding company. The company engages in the provision of financial services. It operates in the following segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia and Corporates. The Sun Life Financial Canada segment provides individual insurance and wealth management, group insurance and retirement services.
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