Sun Life Financial Inc (SLF) Short Interest Up 52.3% in December
Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 791,396 shares, an increase of 52.3% from the November 30th total of 519,743 shares. Based on an average daily trading volume, of 446,344 shares, the short-interest ratio is currently 1.8 days. Approximately 0.1% of the company’s stock are sold short.
Institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in Sun Life Financial by 24.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 888 shares in the last quarter. Captrust Financial Advisors bought a new position in Sun Life Financial in the 2nd quarter worth about $162,000. Tower Research Capital LLC TRC boosted its stake in Sun Life Financial by 147.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,628 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 2,163 shares in the last quarter. Advisory Services Network LLC boosted its stake in Sun Life Financial by 0.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,338 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 38 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Sun Life Financial by 4.3% in the 2nd quarter. Stifel Financial Corp now owns 6,060 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 41.15% of the company’s stock.
A number of analysts have recently commented on the stock. BMO Capital Markets restated a “hold” rating and set a $52.00 target price on shares of Sun Life Financial in a report on Friday, November 24th. Zacks Investment Research cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Morgan Stanley boosted their target price on shares of Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Sun Life Financial presently has a consensus rating of “Hold” and a consensus target price of $50.40.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, November 29th were paid a $0.3565 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $1.43 dividend on an annualized basis and a yield of 3.47%. Sun Life Financial’s payout ratio is presently 41.91%.
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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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