Sun Life Financial Inc. (NYSE:SLF) Short Interest Up 35.4% in February

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 16,380,000 shares, a growth of 35.4% from the February 13th total of 12,100,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 738,900 shares, the days-to-cover ratio is presently 22.2 days.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds have recently made changes to their positions in SLF. Human Investing LLC bought a new position in Sun Life Financial during the 4th quarter valued at about $26,000. Assetmark Inc. increased its position in Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares during the period. Asset Planning Inc bought a new position in Sun Life Financial in the fourth quarter worth approximately $40,000. BankPlus Trust Department purchased a new stake in shares of Sun Life Financial during the 4th quarter worth $40,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at about $45,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLF. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Finally, StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Sun Life Financial Stock Performance

Shares of SLF stock traded up $1.10 on Friday, reaching $55.40. The stock had a trading volume of 300,469 shares, compared to its average volume of 798,673. The stock has a market cap of $31.74 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $62.85. The company has a 50 day simple moving average of $56.98 and a 200 day simple moving average of $57.81.

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 the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. On average, equities research analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) is 60.16%.

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.