Sun Life Financial Inc. (NYSE:SLF) Short Interest Up 395.9% in February

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in SLF. Human Investing LLC bought a new stake in Sun Life Financial during the 4th quarter valued at $26,000. Assetmark Inc. lifted its stake in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC boosted its position in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 361 shares in the last quarter. Asset Planning Inc bought a new position in Sun Life Financial in the fourth quarter worth about $40,000. Finally, BankPlus Trust Department bought a new position in Sun Life Financial in the fourth quarter worth about $40,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.3 %

SLF stock traded up $0.18 during trading on Thursday, reaching $54.73. The company’s stock had a trading volume of 542,335 shares, compared to its average volume of 813,417. The company has a market capitalization of $31.35 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. The company’s fifty day moving average is $57.97 and its 200-day moving average is $57.58. 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 announced its quarterly 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 net margin of 8.08% and a return on equity of 16.86%. Analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a $0.5876 dividend. 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 4.29%. Sun Life Financial’s payout ratio is 60.16%.

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.