Sun Life Financial Inc. (SLF) Short Interest Down 48.4% in May
Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 952,126 shares, a decrease of 48.4% from the May 15th total of 1,844,876 shares. Based on an average daily trading volume, of 461,793 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.2% of the shares of the company are short sold.
Sun Life Financial (NYSE:SLF) opened at 34.20 on Friday. Sun Life Financial has a one year low of $30.38 and a one year high of $40.57. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 11.39 and a beta of 0.89. The stock’s 50 day moving average is $33.92 and its 200 day moving average is $36.78.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.3164 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.27 annualized dividend and a yield of 3.70%. Sun Life Financial’s dividend payout ratio (DPR) is presently 41.23%.
A number of equities analysts have recently weighed in on SLF shares. BidaskClub raised shares of Sun Life Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. Finally, Credit Suisse Group cut shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.17.
A number of institutional investors have recently added to or reduced their stakes in SLF. First Republic Investment Management Inc. acquired a new position in Sun Life Financial during the fourth quarter valued at $266,000. Franklin Resources Inc. boosted its position in Sun Life Financial by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 229,407 shares of the financial services provider’s stock valued at $8,807,000 after buying an additional 14,490 shares during the period. A.R.T. Advisors LLC acquired a new position in Sun Life Financial during the fourth quarter valued at $1,305,000. Public Sector Pension Investment Board boosted its position in Sun Life Financial by 3.1% in the fourth quarter. Public Sector Pension Investment Board now owns 1,065,806 shares of the financial services provider’s stock valued at $40,970,000 after buying an additional 32,400 shares during the period. Finally, Tyers Asset Management LLC acquired a new position in Sun Life Financial during the fourth quarter valued at $171,000. 42.78% of the stock is currently owned by institutional investors.
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Sun Life Financial Company Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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