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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,460,000 shares, a growth of 46.2% from the November 15th total of 4,420,000 shares. Based on an average trading volume of 544,000 shares, the short-interest ratio is presently 11.9 days. Currently, 1.1% of the company’s shares are short sold.

Sun Life Financial Trading Down 0.5 %

Shares of NYSE SLF traded down $0.33 during trading hours on Friday, reaching $60.13. The stock had a trading volume of 790,242 shares, compared to its average volume of 673,754. The business’s fifty day moving average price is $59.05 and its two-hundred day moving average price is $54.16. The firm has a market cap of $34.62 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.56 and a beta of 1.03. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. Sun Life Financial’s dividend payout ratio is presently 55.23%.

Hedge Funds Weigh In On Sun Life Financial

Several institutional investors have recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in Sun Life Financial by 28.2% during the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after acquiring an additional 1,284,556 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after purchasing an additional 1,049,244 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Sun Life Financial by 16.5% in the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after purchasing an additional 905,679 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Sun Life Financial by 423.9% during the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 823,670 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after buying an additional 797,901 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLF has been the topic of a number of recent analyst reports. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays assumed coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the 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.