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

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

Sun Life Financial Stock Up 0.9 %

SLF stock traded up $0.48 during trading on Friday, hitting $55.19. 185,814 shares of the company’s stock traded hands, compared to its average volume of 797,020. The business has a fifty day simple moving average of $57.89 and a two-hundred day simple moving average of $57.56. The firm has a market capitalization of $31.61 billion, a P/E ratio of 14.38, a PEG 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.

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

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Sun Life Financial by 7.6% in the third 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 acquiring an additional 654,404 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sun Life Financial by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after purchasing an additional 34,072 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after acquiring an additional 703,391 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Sun Life Financial in the 3rd quarter worth approximately $878,000. Finally, FMR LLC grew its position in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after purchasing an additional 257,178 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.