Sun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, an increase of 69.3% from the March 31st total of 1,990,000 shares. Based on an average daily trading volume, of 636,900 shares, the days-to-cover ratio is presently 5.3 days. Approximately 0.6% of the company’s shares are short sold.
Institutional Investors Weigh In On Sun Life Financial
A number of hedge funds have recently added to or reduced their stakes in the stock. Addenda Capital Inc. increased its holdings in Sun Life Financial by 21.1% in the 4th quarter. Addenda Capital Inc. now owns 148,679 shares of the financial services provider’s stock worth $7,710,000 after acquiring an additional 25,886 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Sun Life Financial during the 4th quarter valued at $2,299,000. International Assets Investment Management LLC bought a new position in Sun Life Financial in the 4th quarter worth $2,138,000. Wellington Management Group LLP purchased a new stake in Sun Life Financial in the 3rd quarter worth $3,610,000. Finally, Barometer Capital Management Inc. lifted its position in shares of Sun Life Financial by 7.2% in the third quarter. Barometer Capital Management Inc. now owns 151,850 shares of the financial services provider’s stock valued at $7,410,000 after acquiring an additional 10,200 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Sun Life Financial Stock Up 0.5 %
Shares of NYSE:SLF traded up $0.27 during midday trading on Monday, reaching $51.94. The company’s stock had a trading volume of 109,974 shares, compared to its average volume of 606,074. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.46. The firm has a market capitalization of $30.25 billion, a P/E ratio of 13.32, a PEG ratio of 1.28 and a beta of 1.01. The firm has a 50 day moving average of $53.44 and a 200-day moving average of $51.38.
Sun Life Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a dividend of $0.581 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a yield of 4.47%. Sun Life Financial’s dividend payout ratio is 59.79%.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group began coverage on Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company.
Read Our Latest Research Report on SLF
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.
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