Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,498 shares of the shipping company’s stock after selling 4,567 shares during the quarter. Corebridge Financial Inc.’s holdings in Golden Ocean Group were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Golden Ocean Group by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company’s stock valued at $4,275,000 after buying an additional 29,051 shares in the last quarter. FMR LLC boosted its position in shares of Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after purchasing an additional 7,263 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Golden Ocean Group by 96.3% during the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock worth $264,000 after purchasing an additional 9,684 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth $1,543,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Golden Ocean Group by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock valued at $5,947,000 after purchasing an additional 106,966 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Stock Up 11.9 %

Golden Ocean Group stock opened at $7.25 on Tuesday. Golden Ocean Group Limited has a fifty-two week low of $6.37 and a fifty-two week high of $15.77. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 5.99 and a beta of 1.10. The stock’s fifty day moving average is $8.72 and its two-hundred day moving average is $9.90. 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 8.28%. Golden Ocean Group’s payout ratio is 53.57%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday, February 26th.

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.