Nisa Investment Advisors LLC trimmed its holdings in Frontline plc (NYSE:FRO – Free Report) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,800 shares of the shipping company’s stock after selling 4,530 shares during the period. Nisa Investment Advisors LLC’s holdings in Frontline were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of FRO. International Assets Investment Management LLC purchased a new stake in shares of Frontline in the fourth quarter valued at about $603,000. Global Retirement Partners LLC grew its holdings in shares of Frontline by 10.6% in the fourth quarter. Global Retirement Partners LLC now owns 12,773 shares of the shipping company’s stock valued at $284,000 after purchasing an additional 1,225 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Frontline by 2.4% in the fourth quarter. SeaCrest Wealth Management LLC now owns 51,585 shares of the shipping company’s stock valued at $1,147,000 after purchasing an additional 1,200 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Frontline in the fourth quarter valued at about $292,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Frontline in the fourth quarter valued at about $494,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.
Frontline Trading Up 0.8 %
Shares of FRO stock opened at $24.35 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.78 and a quick ratio of 1.79. The firm has a market cap of $5.42 billion, a PE ratio of 8.25 and a beta of 0.06. The company has a 50-day moving average of $23.30 and a two-hundred day moving average of $21.82. Frontline plc has a 1-year low of $13.35 and a 1-year high of $25.14.
Frontline Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Frontline’s previous quarterly dividend of $0.30. Frontline’s dividend payout ratio (DPR) is 50.17%.
Analyst Ratings Changes
A number of brokerages recently issued reports on FRO. JPMorgan Chase & Co. dropped their price objective on shares of Frontline from $23.00 to $22.30 and set a “neutral” rating for the company in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft raised shares of Frontline from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $26.00 in a report on Tuesday, January 9th. Finally, Jefferies Financial Group raised shares of Frontline from a “hold” rating to a “buy” rating and increased their target price for the stock from $22.00 to $30.00 in a research note on Thursday, March 21st.
Get Our Latest Stock Analysis on Frontline
Frontline Profile
Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.
Read More
- Five stocks we like better than Frontline
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Silicon Motion Proves That AI in Motion Stays in Motion
- 3 Fintech Stocks With Good 2021 Prospects
- Undervalued UnitedHealth Group Won’t Be For Long
- Find and Profitably Trade Stocks at 52-Week Lows
- The 5 Stocks Most Sold By Insiders This Year
Want to see what other hedge funds are holding FRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frontline plc (NYSE:FRO – Free Report).
Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.