Sagicor Financial (TSE:SFC) Trading Up 0.8% – Here’s Why

Shares of Sagicor Financial Company Ltd. (TSE:SFC) shot up 0.8% on Wednesday . The stock traded as high as C$8.95 and last traded at C$8.95. Approximately 39,607 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 70,569 shares. The stock had previously closed at C$8.88.

Analyst Ratings Changes

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

Sagicor Financial Stock Up 0.3%

The firm has a market cap of C$1.18 billion, a P/E ratio of 49.03 and a beta of -0.09. The firm’s 50-day simple moving average is C$8.54 and its 200 day simple moving average is C$9.04.

Sagicor Financial (TSE:SFC) last released its earnings results on Wednesday, May 13th. The company reported C$0.26 earnings per share for the quarter. Sagicor Financial had a net margin of 1.16% and a return on equity of 2.58%. The firm had revenue of C$791.91 million for the quarter. As a group, analysts forecast that Sagicor Financial Company Ltd. will post 0.9578783 earnings per share for the current year.

Insider Activity

In related news, Director Alan Kenneth Ryder purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of C$8.55 per share, with a total value of C$171,000.00. Following the acquisition, the director owned 100,000 shares of the company’s stock, valued at C$855,000. This trade represents a 25.00% increase in their position. In the last ninety days, insiders have purchased 24,400 shares of company stock worth $206,900. Company insiders own 34.21% of the company’s stock.

About Sagicor Financial

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.