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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, an increase of 69.3% from the March 31st total of 1,990,000 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 636,900 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial during the fourth quarter valued at $26,000. Northwest Financial Advisors purchased a new stake in shares of Sun Life Financial in the fourth quarter worth approximately $29,000. RIA Advisory Group LLC purchased a new stake in shares of Sun Life Financial in the fourth quarter worth approximately $39,000. Private Wealth Management Group LLC acquired a new stake in shares of Sun Life Financial during the fourth quarter worth approximately $41,000. Finally, Legacy Financial Group LLC purchased a new position in Sun Life Financial during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock.

Sun Life Financial Stock Up 0.5 %

Sun Life Financial stock traded up $0.27 during mid-day trading on Monday, hitting $51.94. 109,974 shares of the company’s stock traded hands, compared to its average volume of 606,074. Sun Life Financial has a one year low of $44.57 and a one year high of $55.46. The firm has a 50 day moving average price of $53.44 and a 200 day moving average price of $51.38. The company has a market cap of $30.25 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The business had revenue of $13.73 billion for the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. On average, analysts expect that Sun Life Financial will post 5.03 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio is currently 59.79%.

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.