Sun Life Financial Inc. (NYSE:SLF) Sees Significant Increase in Short Interest

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,440,000 shares, an increase of 47.0% from the January 15th total of 1,660,000 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 642,500 shares, the short-interest ratio is currently 3.8 days.

Sun Life Financial Trading Down 0.2 %

Shares of SLF traded down $0.11 on Friday, reaching $55.17. The company’s stock had a trading volume of 858,344 shares, compared to its average volume of 554,788. The stock has a market capitalization of $34.65 billion, a PE ratio of 12.29, a PEG ratio of 1.61 and a beta of 1.03. The firm has a fifty day moving average of $58.78 and a 200-day moving average of $57.18. Sun Life Financial has a twelve month low of $46.41 and a twelve month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. As a group, equities analysts anticipate that Sun Life Financial will post 4.76 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is 57.46%.

Analyst Upgrades and Downgrades

SLF has been the subject of a number of recent research reports. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Trading of Sun Life Financial

Several hedge funds have recently modified their holdings of the company. Creative Planning lifted its holdings in Sun Life Financial by 1.2% in the 3rd quarter. Creative Planning now owns 48,558 shares of the financial services provider’s stock valued at $2,817,000 after purchasing an additional 590 shares in the last quarter. Heathbridge Capital Management Ltd. purchased a new stake in Sun Life Financial during the third quarter worth approximately $244,000. Well Done LLC purchased a new stake in Sun Life Financial in the third quarter valued at approximately $216,000. Blue Trust Inc. grew its holdings in Sun Life Financial by 123.7% during the third quarter. Blue Trust Inc. now owns 7,661 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 4,237 shares during the period. Finally, Signaturefd LLC grew its holdings in Sun Life Financial by 5.6% in the third quarter. Signaturefd LLC now owns 25,319 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 1,348 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.