NFJ Investment Group LLC Has $3.88 Million Position in SFL Co. Ltd. (NYSE:SFL)

NFJ Investment Group LLC cut its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 506,916 shares of the shipping company’s stock after selling 15,659 shares during the quarter. NFJ Investment Group LLC’s holdings in SFL were worth $3,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in shares of SFL by 26.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 33,599 shares of the shipping company’s stock worth $257,000 after acquiring an additional 6,972 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of SFL by 53.8% during the 2nd quarter. Baird Financial Group Inc. now owns 87,612 shares of the shipping company’s stock worth $670,000 after acquiring an additional 30,660 shares during the last quarter. BlackRock Inc. increased its holdings in shares of SFL by 2.5% during the 2nd quarter. BlackRock Inc. now owns 5,240,832 shares of the shipping company’s stock worth $40,093,000 after acquiring an additional 128,004 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of SFL by 9.1% during the 2nd quarter. Deutsche Bank AG now owns 228,032 shares of the shipping company’s stock worth $1,745,000 after acquiring an additional 19,049 shares during the last quarter. Finally, Ethic Inc. increased its holdings in shares of SFL by 109.2% during the 2nd quarter. Ethic Inc. now owns 24,617 shares of the shipping company’s stock worth $188,000 after acquiring an additional 12,847 shares during the last quarter. 30.17% of the stock is currently owned by institutional investors and hedge funds.

SFL has been the topic of a number of research reports. DNB Markets raised SFL from a “hold” rating to a “buy” rating in a report on Thursday, August 19th. Jefferies Financial Group raised SFL from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, August 19th. Finally, Zacks Investment Research lowered SFL from a “buy” rating to a “hold” rating in a report on Tuesday, August 24th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.17.

NYSE:SFL opened at $7.93 on Friday. The stock has a fifty day moving average price of $7.56 and a 200-day moving average price of $7.91. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -8.62 and a beta of 1.08. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.06 and a current ratio of 1.08. SFL Co. Ltd. has a fifty-two week low of $5.85 and a fifty-two week high of $9.05.

SFL (NYSE:SFL) last released its earnings results on Thursday, August 19th. The shipping company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of $116.80 million for the quarter, compared to the consensus estimate of $112.69 million. SFL had a negative net margin of 21.52% and a positive return on equity of 9.91%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. Research analysts predict that SFL Co. Ltd. will post 0.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.57%. SFL’s payout ratio is 68.18%.

SFL Profile

SFL Corp. Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. It operate through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The company was founded on October 10, 2003 and is headquartered in Hamilton, Bermuda.

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Institutional Ownership by Quarter for SFL (NYSE:SFL)

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