Sun Life Financial Inc. (NYSE:SLF) Sees Large Decline in Short Interest

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 3,370,000 shares, a decline of 47.8% from the November 30th total of 6,460,000 shares. Based on an average trading volume of 585,700 shares, the short-interest ratio is currently 5.8 days. Approximately 0.6% of the shares of the stock are short sold.

Sun Life Financial Stock Performance

Shares of NYSE SLF traded up $0.06 during mid-day trading on Friday, hitting $59.59. 12,661 shares of the stock were exchanged, compared to its average volume of 666,014. The company has a market cap of $34.28 billion, a P/E ratio of 13.27, a PEG ratio of 1.55 and a beta of 1.03. Sun Life Financial has a twelve month low of $46.41 and a twelve month high of $62.85. The stock’s fifty day simple moving average is $59.43 and its two-hundred day simple moving average is $54.83.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.17%. Sun Life Financial’s payout ratio is presently 55.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays initiated coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

Institutional Trading of Sun Life Financial

Several large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock worth $3,635,000 after buying an additional 200 shares in the last quarter. State Street Corp raised its stake in shares of Sun Life Financial by 0.8% in the third quarter. State Street Corp now owns 39,478 shares of the financial services provider’s stock worth $2,291,000 after acquiring an additional 330 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Sun Life Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 426 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Sun Life Financial by 9.5% in the second quarter. Evergreen Capital Management LLC now owns 5,373 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 466 shares in the last quarter. 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.