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

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

Sun Life Financial Stock Up 2.1 %

NYSE:SLF traded up $1.17 during mid-day trading on Monday, reaching $56.57. 366,335 shares of the company were exchanged, compared to its average volume of 590,072. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $62.85. The company has a fifty day moving average of $56.94 and a 200 day moving average of $57.85. The stock has a market cap of $32.41 billion, a PE ratio of 14.73, a PEG ratio of 1.52 and a beta of 1.04.

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, topping 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%. On average, equities research analysts anticipate that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is currently 60.16%.

Analyst Upgrades and Downgrades

SLF has been the topic of several analyst reports. 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 raised shares of 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 report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds have recently added to or reduced their stakes in SLF. Private Advisor Group LLC lifted its position in Sun Life Financial by 2.1% during the 4th quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 181 shares during the period. Checchi Capital Advisers LLC lifted its position in Sun Life Financial by 5.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,719 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 192 shares during the period. Erste Asset Management GmbH lifted its position in Sun Life Financial by 0.7% during the 4th quarter. Erste Asset Management GmbH now owns 28,400 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 200 shares during the period. Tidal Investments LLC lifted its position in Sun Life Financial by 4.5% during the 4th quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 222 shares during the period. Finally, Triasima Portfolio Management inc. lifted its position in Sun Life Financial by 0.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 47,900 shares of the financial services provider’s stock valued at $2,843,000 after purchasing an additional 250 shares during the period. 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.