Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 8,710,000 shares, an increase of 115.6% from the May 15th total of 4,040,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 794,400 shares, the days-to-cover ratio is currently 11.0 days.
SLF has been the subject of several recent research reports. TD Securities reduced their price target on Sun Life Financial from C$72.00 to C$68.00 in a research report on Wednesday, June 1st. Barclays assumed coverage on Sun Life Financial in a research report on Thursday. They issued an “overweight” rating and a $71.00 price objective for the company. BMO Capital Markets cut their price objective on Sun Life Financial from C$75.00 to C$72.00 in a research report on Wednesday, June 1st. Desjardins cut their price objective on Sun Life Financial from C$77.00 to C$73.00 in a research report on Monday, May 16th. Finally, Canaccord Genuity Group cut their price objective on Sun Life Financial from C$75.50 to C$67.00 in a research report on Sunday, May 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $72.23.
Institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $505,000. Goldman Sachs Group Inc. lifted its stake in shares of Sun Life Financial by 4.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 534,731 shares of the financial services provider’s stock valued at $29,779,000 after purchasing an additional 22,159 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Sun Life Financial by 11.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 17,364 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 1,822 shares during the last quarter. Sandy Cove Advisors LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $116,000. Finally, CLARET ASSET MANAGEMENT Corp lifted its stake in shares of Sun Life Financial by 4.7% in the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 11,417 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 510 shares during the last quarter. 47.14% of the stock is currently owned by institutional investors and hedge funds.
NYSE SLF traded down $1.52 on Friday, reaching $47.88. 594,325 shares of the company were exchanged, compared to its average volume of 840,957. The business’s fifty day moving average price is $50.90 and its 200 day moving average price is $53.47. The stock has a market capitalization of $28.06 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. Sun Life Financial has a fifty-two week low of $46.23 and a fifty-two week high of $58.49.
Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last released its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $300.00 million for the quarter. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. Research analysts anticipate that Sun Life Financial will post 4.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.537 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $2.15 dividend on an annualized basis and a yield of 4.49%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.52. Sun Life Financial’s payout ratio is 41.68%.
Sun Life Financial Company Profile (Get Rating)
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.
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