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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw 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. Based on an average trading volume of 642,500 shares, the short-interest ratio is currently 3.8 days. Approximately 0.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SLF shares. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Price Performance

Shares of NYSE:SLF traded down $0.11 during trading hours on Friday, hitting $55.17. 858,344 shares of the company’s stock traded hands, compared to its average volume of 554,788. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $62.85. The business has a fifty day moving average price of $58.78 and a 200-day moving average price of $57.18. The firm has a market capitalization of $34.65 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data 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 return on equity of 17.44% and a net margin of 7.32%. As a group, equities analysts predict that Sun Life Financial will post 4.76 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 4.26%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is presently 57.46%.

Institutional Trading of Sun Life Financial

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Sun Life Financial by 7.6% in 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 during the last quarter. JPMorgan Chase & Co. lifted its position in Sun Life Financial by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after acquiring an additional 34,072 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Sun Life Financial in the third quarter valued at $878,000. FMR LLC raised its holdings in shares of Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after buying an additional 257,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sun Life Financial by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock valued at $91,778,000 after buying an additional 79,155 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.