PNC Financial Services Group Inc. Sells 1,305 Shares of SFL Co. Ltd. (NYSE:SFL)

PNC Financial Services Group Inc. trimmed its position in SFL Co. Ltd. (NYSE:SFL) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,511 shares of the shipping company’s stock after selling 1,305 shares during the period. PNC Financial Services Group Inc.’s holdings in SFL were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SFL. Jackson Creek Investment Advisors LLC bought a new stake in SFL during the fourth quarter valued at about $1,342,000. Raymond James Financial Inc. bought a new stake in SFL during the 4th quarter valued at approximately $414,000. Aigen Investment Management LP acquired a new stake in SFL in the 4th quarter valued at approximately $189,000. Victory Capital Management Inc. increased its position in SFL by 2,095.5% in the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock worth $4,602,000 after buying an additional 429,800 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of SFL during the fourth quarter worth approximately $809,000. 28.59% of the stock is owned by institutional investors.

SFL Stock Up 0.6 %

NYSE SFL opened at $8.22 on Tuesday. SFL Co. Ltd. has a twelve month low of $8.06 and a twelve month high of $14.62. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. The stock has a market cap of $1.20 billion, a PE ratio of 8.13 and a beta of 0.67. The firm has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $10.39.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 13.15%. The ex-dividend date is Wednesday, March 12th. SFL’s dividend payout ratio is presently 106.93%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note 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.