Skandinaviska Enskilda Banken AB publ Has $1.55 Million Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 35.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,380 shares of the shipping company’s stock after purchasing an additional 46,415 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.09% of Golden Ocean Group worth $1,549,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Two Sigma Advisers LP increased its stake in Golden Ocean Group by 6.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after purchasing an additional 177,100 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company’s stock worth $10,208,000 after acquiring an additional 793,470 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company’s stock worth $8,629,000 after acquiring an additional 33,241 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new position in Golden Ocean Group in the 3rd quarter valued at about $9,360,000. 22.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOGL. Jefferies Financial Group reissued a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 26th. Pareto Securities reiterated a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st.

Golden Ocean Group Trading Up 1.2 %

NASDAQ:GOGL opened at $7.80 on Tuesday. Golden Ocean Group Limited has a 52 week low of $7.49 and a 52 week high of $15.77. The firm has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $10.31. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 6.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.69%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 53.57%.

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.