Short Interest in Sun Life Financial Inc. (NYSE:SLF) Drops By 66.8%

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 5,440,000 shares, a decrease of 66.8% from the February 28th total of 16,380,000 shares. Based on an average daily trading volume, of 692,700 shares, the days-to-cover ratio is currently 7.9 days. Approximately 1.0% of the shares of the stock are short sold.

Sun Life Financial Price Performance

NYSE SLF traded up $0.37 on Monday, hitting $57.01. 137,282 shares of the stock were exchanged, compared to its average volume of 684,157. The company's 50-day moving average price is $56.69 and its two-hundred day moving average price is $57.98. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $62.85. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.52 and a beta of 1.04.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Equities analysts predict that Sun Life Financial will post 5.19 EPS for the current fiscal year.

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Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.12%. Sun Life Financial's dividend payout ratio is 60.16%.

Institutional Trading of Sun Life Financial

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Sun Life Financial by 2,071.4% in the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock worth $80,160,000 after buying an additional 1,288,545 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sun Life Financial by 32.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,575 shares of the financial services provider's stock worth $509,000 after acquiring an additional 2,099 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Sun Life Financial during the fourth quarter valued at $1,648,000. Vise Technologies Inc. grew its stake in Sun Life Financial by 106.0% in the fourth quarter. Vise Technologies Inc. now owns 8,778 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 4,516 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Sun Life Financial by 19.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,898,866 shares of the financial services provider's stock valued at $112,602,000 after buying an additional 313,176 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLF shares. Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Finally, StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

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.