Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 934,204 shares, an increase of 75.7% from the January 31st total of 531,635 shares. Based on an average daily trading volume, of 708,416 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.2% of the company’s stock are sold short.
Institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its holdings in Sun Life Financial by 4.3% in the 2nd quarter. Stifel Financial Corp now owns 6,060 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 249 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Sun Life Financial by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 101,197 shares of the financial services provider’s stock valued at $4,021,000 after purchasing an additional 1,600 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Sun Life Financial by 1.6% in the 3rd quarter. State of Wisconsin Investment Board now owns 667,656 shares of the financial services provider’s stock valued at $26,527,000 after purchasing an additional 10,300 shares during the last quarter. Lincluden Management Ltd. boosted its stake in Sun Life Financial by 6.6% during the third quarter. Lincluden Management Ltd. now owns 1,360,502 shares of the financial services provider’s stock worth $54,204,000 after acquiring an additional 84,830 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Sun Life Financial by 12.5% in the third quarter. Candriam Luxembourg S.C.A. now owns 64,031 shares of the financial services provider’s stock valued at $2,544,000 after buying an additional 7,090 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.
Shares of Sun Life Financial (NYSE:SLF) opened at $42.03 on Wednesday. Sun Life Financial has a fifty-two week low of $32.22 and a fifty-two week high of $44.50. The firm has a market cap of $25,994.18, a P/E ratio of 15.62, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.06 and a current ratio of 5.06.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a $0.3617 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, February 28th. Sun Life Financial’s payout ratio is presently 54.28%.
Several research firms have recently commented on SLF. Zacks Investment Research lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets restated a “hold” rating and issued a $52.00 target price on shares of Sun Life Financial in a research report on Friday, November 24th. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday, January 31st. Finally, TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 15th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.67.
WARNING: “Sun Life Financial Inc (SLF) Sees Large Increase in Short Interest” was originally posted by Week Herald and is the sole property of of Week Herald. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://weekherald.com/2018/03/14/sun-life-financial-inc-slf-short-interest-update.html.
Sun Life Financial Company Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
Receive News & Ratings for Sun Life Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial and related companies with MarketBeat.com's FREE daily email newsletter.