Prudential Financial Inc. boosted its position in shares of Ship Finance International Ltd. (NYSE:SFL) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 555,809 shares of the company’s stock after buying an additional 32,200 shares during the period. Prudential Financial Inc. owned 0.59% of Ship Finance International worth $8,193,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SFL. Arete Wealth Advisors LLC raised its stake in Ship Finance International by 2.4% in the first quarter. Arete Wealth Advisors LLC now owns 11,317 shares of the company’s stock worth $157,000 after buying an additional 267 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Ship Finance International by 10.0% in the second quarter. PNC Financial Services Group Inc. now owns 10,715 shares of the company’s stock worth $157,000 after buying an additional 976 shares in the last quarter. BlackRock Japan Co. Ltd purchased a new stake in Ship Finance International during the first quarter worth $175,000. Ameriprise Financial Inc. purchased a new stake in Ship Finance International during the second quarter worth $183,000. Finally, Quantbot Technologies LP purchased a new stake in Ship Finance International during the second quarter worth $185,000. Institutional investors and hedge funds own 30.05% of the company’s stock.
Shares of Ship Finance International Ltd. (NYSE:SFL) traded down 1.02% during mid-day trading on Friday, hitting $14.52. 1,782,110 shares of the stock were exchanged. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 8.48 and a beta of 1.28. Ship Finance International Ltd. has a 52-week low of $9.83 and a 52-week high of $17.80. 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 released its quarterly earnings data on Wednesday, August 24th. The company reported $0.42 earnings per share for the quarter, missing the Zacks’ 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 research analysts expect that Ship Finance International Ltd. will post $2.00 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Monday, September 12th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date was Thursday, September 8th. Ship Finance International’s dividend payout ratio (DPR) is presently 90.45%.
SFL has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Ship Finance International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Jefferies Group set a $15.00 price objective on shares of Ship Finance International and gave the company a “hold” rating in a research note on Wednesday, July 27th. Seaport Global Securities assumed coverage on shares of Ship Finance International in a research note on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Clarkson Capital reiterated a “neutral” rating on shares of Ship Finance International in a research note on Friday, June 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.00.
About Ship Finance International
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.