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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw a significant increase in short interest in 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 company are short sold. Based on an average daily trading volume, of 738,900 shares, the days-to-cover ratio is currently 22.2 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLF shares. 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. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Performance

NYSE SLF traded up $1.10 during trading on Friday, reaching $55.40. 300,469 shares of the company’s stock were exchanged, compared to its average volume of 798,673. The company has a 50 day moving average price of $56.98 and a two-hundred day moving average price of $57.81. The stock has a market cap of $31.74 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. 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 posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Research analysts forecast that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be given a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 4.24%. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.16%.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds have recently made changes to their positions in SLF. Polar Asset Management Partners Inc. purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at about $1,648,000. Vise Technologies Inc. grew its position in shares of Sun Life Financial by 106.0% during the fourth quarter. Vise Technologies Inc. now owns 8,778 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 4,516 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Sun Life Financial by 19.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,898,866 shares of the financial services provider’s stock valued at $112,602,000 after acquiring an additional 313,176 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sun Life Financial by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,884 shares of the financial services provider’s stock valued at $73,337,000 after purchasing an additional 110,780 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake 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 worth $305,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s 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.