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 drop in short interest during the month of December. As of December 15th, there was short interest totalling 3,370,000 shares, a drop of 47.8% from the November 30th total of 6,460,000 shares. Approximately 0.6% of the company's stock are sold short. Based on an average daily volume of 585,700 shares, the short-interest ratio is currently 5.8 days.

Sun Life Financial Stock Performance

Shares of SLF traded down $0.05 during trading hours on Friday, hitting $59.48. 200,543 shares of the company were exchanged, compared to its average volume of 666,772. The company has a market cap of $34.22 billion, a PE ratio of 13.25, a PEG ratio of 1.55 and a beta of 1.03. The firm's 50 day moving average is $59.48 and its 200-day moving average is $54.90. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.18%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is presently 55.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SLF shares. Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its stake in 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 purchasing an additional 1,284,556 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Sun Life Financial by 13.9% in the second 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 acquiring an additional 1,049,244 shares during the period. CIBC Asset Management Inc grew its stake in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider's stock worth $313,976,000 after acquiring an additional 905,679 shares during the last quarter. Intact Investment Management Inc. increased its position in Sun Life Financial by 423.9% during the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider's stock worth $49,909,000 after acquiring an additional 823,670 shares during the period. Finally, AGF Management Ltd. raised its stake in Sun Life Financial by 46.5% during the 2nd quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider's stock valued at $135,816,000 after purchasing an additional 797,901 shares during the last quarter. 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.