Principal Financial Group Inc. Has $165,000 Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Principal Financial Group Inc. lowered its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 15.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,932 shares of the shipping company’s stock after selling 2,133 shares during the quarter. Principal Financial Group Inc.’s holdings in Golden Ocean Group were worth $165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares during the last quarter. Fifth Lane Capital LP acquired a new stake in Golden Ocean Group in the 1st quarter valued at approximately $137,000. Lazard Asset Management LLC bought a new stake in shares of Golden Ocean Group in the 1st quarter worth approximately $149,000. Bayesian Capital Management LP bought a new stake in shares of Golden Ocean Group in the 1st quarter worth approximately $151,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Golden Ocean Group in the 4th quarter worth approximately $171,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

Golden Ocean Group stock opened at $11.65 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.00. The company has a market capitalization of $2.33 billion, a PE ratio of 12.53 and a beta of 1.16. Golden Ocean Group Limited has a one year low of $7.09 and a one year high of $15.77. The business has a 50 day simple moving average of $12.27 and a 200 day simple moving average of $13.16.

Golden Ocean Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Wednesday, September 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.20 annualized dividend and a dividend yield of 10.30%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 129.03%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOGL shares. Jefferies Financial Group reduced their price objective on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research report on Wednesday, August 28th. StockNews.com upgraded Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Friday, August 30th.

Golden Ocean Group Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.