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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,440,000 shares, a growth 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 presently 3.8 days. Approximately 0.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its stake in Sun Life Financial by 22.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,152 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 1,691 shares during the period. Guardian Capital LP grew its stake in Sun Life Financial by 0.8% in the fourth quarter. Guardian Capital LP now owns 320,223 shares of the financial services provider’s stock worth $19,004,000 after purchasing an additional 2,567 shares during the period. Northern Trust Corp grew its stake in Sun Life Financial by 68.5% in the fourth quarter. Northern Trust Corp now owns 493,530 shares of the financial services provider’s stock worth $29,286,000 after purchasing an additional 200,567 shares during the period. The Manufacturers Life Insurance Company grew its stake in Sun Life Financial by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider’s stock worth $562,121,000 after purchasing an additional 198,205 shares during the period. Finally, Beacon Pointe Advisors LLC grew its stake in Sun Life Financial by 38.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,459 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,804 shares during the period. Institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy”.

Sun Life Financial Trading Down 0.2 %

SLF stock traded down $0.11 during midday trading on Friday, hitting $55.17. The company had a trading volume of 858,344 shares, compared to its average volume of 554,788. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $62.85. The stock’s 50 day moving average price is $58.78 and its 200 day moving average price is $57.18. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.61 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. Analysts predict that Sun Life Financial will post 4.76 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.26%. Sun Life Financial’s dividend payout ratio is presently 57.46%.

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.