Sun Life Financial Inc. (NYSE:SLF) Sees Large Growth in Short Interest

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 636,900 shares, the short-interest ratio is currently 5.3 days. Currently, 0.6% of the shares of the stock are sold short.

Sun Life Financial Stock Performance

NYSE:SLF traded up $0.26 on Monday, hitting $51.93. 100,286 shares of the stock were exchanged, compared to its average volume of 606,019. The stock has a market capitalization of $30.25 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 1.28 and a beta of 1.01. Sun Life Financial has a 52 week low of $44.57 and a 52 week high of $55.46. The company’s 50-day moving average price is $53.44 and its 200 day moving average price is $51.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. The firm had revenue of $13.73 billion during the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. As a group, equities research analysts predict that Sun Life Financial will post 5.03 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.581 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a yield of 4.48%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Voisard Asset Management Group Inc. bought a new position in Sun Life Financial during the 4th quarter worth approximately $26,000. Northwest Financial Advisors bought a new position in Sun Life Financial during the 4th quarter worth approximately $29,000. RIA Advisory Group LLC bought a new position in Sun Life Financial during the 4th quarter worth approximately $39,000. Private Wealth Management Group LLC bought a new position in Sun Life Financial during the 4th quarter worth approximately $41,000. Finally, Legacy Financial Group LLC bought a new position in Sun Life Financial in the third quarter valued at approximately $40,000. 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.