SFL Co. Ltd. (NYSE:SFL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in SFL Co. Ltd. (NYSE:SFL) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,472 shares of the shipping company’s stock after purchasing an additional 1,418 shares during the period. The Manufacturers Life Insurance Company’s holdings in SFL were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in SFL by 309.1% in the second quarter. SG Americas Securities LLC now owns 60,401 shares of the shipping company’s stock valued at $838,000 after acquiring an additional 45,638 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of SFL by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,908 shares of the shipping company’s stock worth $415,000 after purchasing an additional 919 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of SFL by 151.8% during the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock worth $4,449,000 after purchasing an additional 193,648 shares in the last quarter. Doheny Asset Management CA increased its holdings in SFL by 18.1% in the second quarter. Doheny Asset Management CA now owns 307,833 shares of the shipping company’s stock valued at $4,273,000 after buying an additional 47,116 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in SFL by 19.8% in the second quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock valued at $38,915,000 after buying an additional 462,789 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Fearnley Fonds raised SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Pareto Securities raised SFL from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th.

SFL Price Performance

Shares of SFL opened at $10.07 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50. SFL Co. Ltd. has a 1-year low of $9.83 and a 1-year high of $14.62. The stock has a market cap of $1.40 billion, a PE ratio of 9.07 and a beta of 0.67. The firm has a fifty day moving average price of $10.76 and a 200 day moving average price of $11.83.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $255.30 million during the quarter, compared to analysts’ expectations of $243.98 million. SFL had a net margin of 16.03% and a return on equity of 14.61%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share.

SFL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 10.72%. The ex-dividend date of this dividend is Friday, December 13th. SFL’s payout ratio is currently 97.30%.

SFL 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.