PNC Financial Services Group Inc. boosted its stake in Ship Finance International Ltd. (NYSE:SFL) by 10.0% during the second quarter, Holdings Channel reports. The firm owned 10,715 shares of the company’s stock after buying an additional 976 shares during the period. PNC Financial Services Group Inc.’s holdings in Ship Finance International were worth $157,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC raised its position in shares of Ship Finance International by 2.4% in the first quarter. Arete Wealth Advisors LLC now owns 11,317 shares of the company’s stock valued at $157,000 after buying an additional 267 shares during the period. Quantbot Technologies LP bought a new position in Ship Finance International during the second quarter valued at approximately $185,000. BlackRock Japan Co. Ltd bought a new position in Ship Finance International during the first quarter valued at approximately $175,000. Nwam LLC raised its position in Ship Finance International by 0.7% in the second quarter. Nwam LLC now owns 14,206 shares of the company’s stock valued at $209,000 after buying an additional 99 shares during the period. Finally, Advisory Services Network LLC raised its position in Ship Finance International by 7,880.1% in the second quarter. Advisory Services Network LLC now owns 18,833 shares of the company’s stock valued at $278,000 after buying an additional 18,597 shares during the period. 30.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ship Finance International Ltd. (NYSE:SFL) traded down 1.02% during mid-day trading on Friday, hitting $14.52. The stock had a trading volume of 1,782,110 shares. Ship Finance International Ltd. has a 52 week low of $9.83 and a 52 week high of $17.80. The stock has a market cap of $1.36 billion, a P/E ratio of 8.48 and a beta of 1.28. The stock has a 50-day moving average price of $14.89 and a 200 day moving average price of $14.85.
Ship Finance International (NYSE:SFL) last posted its quarterly earnings data on Wednesday, August 24th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.09. Ship Finance International had a return on equity of 17.86% and a net margin of 41.55%. On average, equities analysts forecast that Ship Finance International Ltd. will post $2.00 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 12.40%. The ex-dividend date of this dividend was Thursday, September 8th. Ship Finance International’s payout ratio is 90.45%.
Several research firms have commented on SFL. Seaport Global Securities began coverage on Ship Finance International in a research report on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price objective on the stock. Zacks Investment Research raised Ship Finance International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Jefferies Group set a $15.00 price objective on Ship Finance International and gave the company a “hold” rating in a research report on Wednesday, July 27th. Finally, Clarkson Capital reissued a “neutral” rating on shares of Ship Finance International in a research report on Friday, June 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.
Ship Finance International Company Profile
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
Want to see what other hedge funds are holding SFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ship Finance International Ltd. (NYSE:SFL).
Receive News & Ratings for Ship Finance International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ship Finance International Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.