Sun Life Financial Inc. (NYSE:SLF) Short Interest Update

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 12,120,000 shares, a growth of 248.3% from the April 30th total of 3,480,000 shares. Approximately 2.1% of the company's shares are short sold. Based on an average daily volume of 723,400 shares, the short-interest ratio is presently 16.8 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada increased 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, Wall Street Zen cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Sun Life Financial Trading Down 0.4%

Sun Life Financial stock traded down $0.25 during midday trading on Tuesday, reaching $64.92. 526,063 shares of the stock traded hands, compared to its average volume of 650,078. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $68.55. The firm has a market cap of $36.66 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.52 and a beta of 0.90. The firm has a fifty day moving average price of $59.36 and a two-hundred day moving average price of $58.64.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same period in the previous year, the firm posted $1.40 earnings per share. Analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. This is a boost 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 3.90%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's payout ratio is currently 62.09%.

Hedge Funds Weigh In On Sun Life Financial

Several large investors have recently bought and sold shares of SLF. SG Americas Securities LLC acquired a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $127,000. Janney Montgomery Scott LLC boosted its stake in Sun Life Financial by 13.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,622 shares of the financial services provider's stock valued at $452,000 after purchasing an additional 893 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Sun Life Financial during the 4th quarter valued at $244,000. Blue Trust Inc. raised its stake in shares of Sun Life Financial by 11.2% in the 4th quarter. Blue Trust Inc. now owns 8,516 shares of the financial services provider's stock worth $494,000 after buying an additional 855 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $95,000. Institutional investors and hedge funds 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.