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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,460,000 shares, a growth of 46.2% from the November 15th total of 4,420,000 shares. Based on an average daily volume of 544,000 shares, the short-interest ratio is currently 11.9 days. Currently, 1.1% of the shares of the company are sold short.

Analyst Ratings Changes

SLF has been the topic of several research analyst reports. Barclays initiated coverage on Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its position in shares of Sun Life Financial by 28.2% during the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after buying an additional 1,284,556 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after purchasing an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Sun Life Financial by 16.5% in the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after purchasing an additional 905,679 shares during the period. Intact Investment Management Inc. increased its position in shares of Sun Life Financial by 423.9% during the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 823,670 shares during the last quarter. Finally, AGF Management Ltd. increased its position in Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after acquiring an additional 797,901 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Trading Down 0.5 %

Shares of NYSE:SLF traded down $0.33 during midday trading on Friday, reaching $60.13. 790,242 shares of the company were exchanged, compared to its average volume of 673,754. Sun Life Financial has a one year low of $46.41 and a one year high of $62.85. The business’s fifty day moving average is $59.05 and its two-hundred day moving average is $54.16. The stock has a market cap of $34.62 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. Sun Life Financial’s dividend payout ratio is presently 55.23%.

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.