Sun Life Financial Inc. (NYSE:SLF) Short Interest Update

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 12,100,000 shares, an increase of 395.9% from the January 31st total of 2,440,000 shares. Based on an average daily trading volume, of 765,100 shares, the days-to-cover ratio is currently 15.8 days. Currently, 2.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

SLF has been the topic of a number of recent research reports. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sun Life Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider’s stock valued at $1,438,888,000 after buying an additional 197,887 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Sun Life Financial by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider’s stock valued at $562,121,000 after acquiring an additional 198,205 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after purchasing an additional 654,404 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after purchasing an additional 703,391 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Sun Life Financial in the 4th quarter worth approximately $382,176,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Up 1.7 %

SLF stock traded up $0.92 during trading on Friday, reaching $55.63. 1,038,999 shares of the company’s stock were exchanged, compared to its average volume of 819,200. The firm has a market cap of $31.87 billion, a PE ratio of 14.49, a P/E/G ratio of 1.52 and a beta of 1.03. Sun Life Financial has a 1-year low of $46.41 and a 1-year high of $62.85. The company’s fifty day moving average price is $57.83 and its 200-day moving average price is $57.62.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, sell-side analysts expect that Sun Life Financial will post 5.19 earnings per share 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. Investors of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.23%. Sun Life Financial’s payout ratio is 60.16%.

About Sun Life Financial

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.