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 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. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 636,900 shares, the short-interest ratio is currently 5.3 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on Sun Life Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company.

Institutional Investors Weigh In On Sun Life Financial

A number of institutional investors have recently added to or reduced their stakes in SLF. Voisard Asset Management Group Inc. acquired a new stake in Sun Life Financial in the fourth quarter worth approximately $26,000. Northwest Financial Advisors acquired a new stake in Sun Life Financial in the fourth quarter worth approximately $29,000. Headinvest LLC acquired a new stake in shares of Sun Life Financial during the 3rd quarter valued at $39,000. RIA Advisory Group LLC acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at $39,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Sun Life Financial during the 3rd quarter valued at $40,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.8 %

Shares of NYSE SLF opened at $51.71 on Friday. The stock has a 50 day simple moving average of $53.44 and a 200-day simple moving average of $51.35. The company has a market cap of $30.12 billion, a PE ratio of 13.33, a P/E/G ratio of 1.28 and a beta of 1.01. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts forecast that Sun Life Financial will post 5.06 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th were given a $0.581 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.49%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio is 59.79%.

About Sun Life Financial

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.