Atria Wealth Solutions Inc. Has $348,000 Stock Holdings in Frontline plc (NYSE:FRO)

Atria Wealth Solutions Inc. lessened its stake in Frontline plc (NYSE:FRO) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,341 shares of the shipping company’s stock after selling 5,590 shares during the period. Atria Wealth Solutions Inc.’s holdings in Frontline were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Naples Money Management LLC purchased a new position in Frontline during the fourth quarter worth about $27,000. Emfo LLC bought a new stake in shares of Frontline during the fourth quarter valued at about $80,000. Tucker Asset Management LLC lifted its stake in Frontline by 477.3% in the 3rd quarter. Tucker Asset Management LLC now owns 4,301 shares of the shipping company’s stock worth $81,000 after purchasing an additional 3,556 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Frontline in the third quarter worth $190,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of Frontline during the 3rd quarter valued at about $219,000. 22.70% of the stock is currently owned by institutional investors.

Frontline Stock Performance

Shares of FRO stock opened at $24.87 on Wednesday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.43 and a beta of 0.03. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.45 and a current ratio of 1.78. Frontline plc has a one year low of $13.35 and a one year high of $25.14. The company’s 50-day moving average is $23.49 and its 200 day moving average is $22.25.

Frontline (NYSE:FRO) last posted its quarterly earnings results on Thursday, February 29th. The shipping company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Frontline had a net margin of 35.95% and a return on equity of 26.00%. The firm had revenue of $415.00 million for the quarter, compared to analysts’ expectations of $280.36 million. During the same quarter in the previous year, the company earned $0.97 EPS. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. Sell-side analysts expect that Frontline plc will post 3.03 EPS for the current fiscal year.

Frontline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were paid a $0.37 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 5.95%. This is a boost from Frontline’s previous quarterly dividend of $0.30. Frontline’s payout ratio is currently 50.17%.

Wall Street Analyst Weigh In

FRO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Frontline from a “hold” rating to a “buy” rating and increased their price target for the company from $17.00 to $26.00 in a research report on Tuesday, January 9th. StockNews.com lowered shares of Frontline from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Frontline from $23.00 to $22.30 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Finally, Jefferies Financial Group upgraded Frontline from a “hold” rating to a “buy” rating and upped their price target for the stock from $22.00 to $30.00 in a research note on Thursday, March 21st.

About Frontline

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.