Safe Bulkers, Inc. (NYSE:SB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Safe Bulkers, Inc. (NYSE:SB) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 599,994 shares of the shipping company’s stock after selling 3,062 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.56% of Safe Bulkers worth $3,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in Safe Bulkers by 83.4% in the 3rd quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock worth $648,000 after purchasing an additional 56,946 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Safe Bulkers in the 3rd quarter valued at $1,109,000. Franklin Resources Inc. boosted its holdings in Safe Bulkers by 107.0% during the third quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock worth $427,000 after buying an additional 42,598 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Safe Bulkers during the third quarter worth $1,480,000. Finally, State Street Corp grew its position in Safe Bulkers by 1.8% during the third quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after buying an additional 29,178 shares during the period. 21.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on SB shares. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a research report on Thursday, November 14th. StockNews.com raised Safe Bulkers from a “hold” rating to a “buy” rating in a report on Monday, January 13th.

Safe Bulkers Trading Up 0.4 %

Shares of NYSE:SB opened at $3.43 on Monday. The business’s 50 day moving average price is $3.79 and its 200-day moving average price is $4.53. Safe Bulkers, Inc. has a 1 year low of $3.37 and a 1 year high of $6.33. The firm has a market capitalization of $365.71 million, a price-to-earnings ratio of 3.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.34.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 2nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend was Monday, December 2nd. Safe Bulkers’s dividend payout ratio is presently 22.22%.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.