PNC Financial Services Group Inc. Reduces Position in SFL Co. Ltd. (NYSE:SFL)

PNC Financial Services Group Inc. reduced its stake in SFL Co. Ltd. (NYSE:SFL) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,511 shares of the shipping company’s stock after selling 1,305 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SFL were worth $128,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp grew its holdings in SFL by 2.5% in the 3rd quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock valued at $24,000,000 after buying an additional 51,022 shares during the period. Geode Capital Management LLC boosted its position in shares of SFL by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock worth $16,680,000 after acquiring an additional 66,096 shares during the last quarter. Empowered Funds LLC boosted its position in shares of SFL by 5.1% in the fourth quarter. Empowered Funds LLC now owns 737,851 shares of the shipping company’s stock worth $7,541,000 after acquiring an additional 35,972 shares during the last quarter. Victory Capital Management Inc. grew its holdings in SFL by 2,095.5% in the fourth quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock valued at $4,602,000 after purchasing an additional 429,800 shares during the period. Finally, PDT Partners LLC increased its position in SFL by 25.3% during the third quarter. PDT Partners LLC now owns 260,858 shares of the shipping company’s stock worth $3,018,000 after purchasing an additional 52,644 shares during the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Price Performance

Shares of SFL stock opened at $8.22 on Tuesday. The firm has a market cap of $1.20 billion, a P/E ratio of 8.13 and a beta of 0.67. The firm has a fifty day moving average of $9.70 and a two-hundred day moving average of $10.39. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. SFL Co. Ltd. has a 1-year low of $8.06 and a 1-year high of $14.62.

SFL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.08 annualized dividend and a dividend yield of 13.15%. SFL’s payout ratio is currently 106.93%.

Analysts Set New Price Targets

Separately, StockNews.com cut SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.