Rs 373 profit per share: This insurance major gets 'overweight' rating by JP Morgan

SBI Life Share Price Target NSE, Dividend Record Date 2023: Shares of SBI Life Insurance Company are in focus as they turn ex-dividend today. The scrip traded in green, up by 1 per cent to quote at Rs 1077 on NSE around 10 AM, even as benchmark indices declined amid concerns over the health of the global banking system.

A total of 5.26 lakh shares changed hands at 10:26 AM at an average traded price of Rs 1071.16 apiece. 

SBI Life had announced to pay an interim dividend of Rs 2.50 per equity share bearing a face value of Rs 10 each. The board had fixed March 16 as the record date for determining the eligibility of shareholders for the payment of Dividend.

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SBI Life Share Price Payment Date 

The dividend amount is credited directly into the shareholders' bank account linked to their Demat account on the payment date. The payment date shall be April 6.

Companies pay dividends to distribute excess earnings to investors, which are typically paid in cash but can also be in the form of company stock.

SBI Life Share Price Target 2023

Meanwhile, global brokerage firm JP Morgan has maintained an 'overweight' rating on SBI Life shares. However, it has cut the target price to Rs 1440 from Rs 1630, implying a profit of Rs 373 per share or around 34 per cent from Wednesday's closing of Rs 1067.05.

Domestic brokerage firm BNP Paribas said that the insurance sector outlook is positive with insurance companies improving their operating metrics. It tagged a 'buy' rating on SBI for a price target of Rs 1900.

SBI Life Share Price History

SBI Life shares are currently trading near its 52-week low of Rs 1033.20, touched on May 9 last year on NSE. Its 52-week high is Rs 1340.35. YTD, the counter has yielded a negative return of 13 per cent. At current market levels, the company has a market cap of Rs 1.07 lakh crore.  

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