Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 8,780,000 shares, a decline of 27.6% from the May 15th total of 12,120,000 shares. Currently, 1.6% of the company's stock are sold short. Based on an average daily volume of 634,400 shares, the days-to-cover ratio is currently 13.8 days.
Analysts Set New Price Targets
SLF has been the topic of several research reports. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank Of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.00.
View Our Latest Stock Report on SLF
Sun Life Financial Stock Down 0.0%
Shares of NYSE SLF traded down $0.02 during trading on Friday, reaching $64.05. The company had a trading volume of 671,860 shares, compared to its average volume of 628,711. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $65.56. The stock has a market cap of $36.10 billion, a PE ratio of 16.30, a P/E/G ratio of 1.74 and a beta of 0.92. The business's 50-day moving average is $61.81 and its 200 day moving average is $59.01.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. The firm had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $6.44 billion. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. During the same period in the prior year, the firm posted $1.40 earnings per share. On average, analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current year.
Sun Life Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial's dividend payout ratio is presently 64.89%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nicola Wealth Management LTD. bought a new position in shares of Sun Life Financial during the first quarter valued at $9,974,000. Acadian Asset Management LLC lifted its holdings in shares of Sun Life Financial by 45.3% during the first quarter. Acadian Asset Management LLC now owns 101,000 shares of the financial services provider's stock valued at $5,776,000 after purchasing an additional 31,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sun Life Financial by 282.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,776,920 shares of the financial services provider's stock valued at $159,006,000 after purchasing an additional 2,050,891 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Sun Life Financial by 113.8% in the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider's stock valued at $454,000 after acquiring an additional 4,270 shares during the period. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in Sun Life Financial by 5.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider's stock valued at $385,740,000 after acquiring an additional 335,054 shares during the period. 52.26% of the stock is owned by institutional investors.
About Sun Life Financial
(
Get Free Report)
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.
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