Allstate Corp Grows Stake in Hewlett Packard Enterprise Company $HPE

Key Points

• Allstate Corp more than doubled its stake in Hewlett Packard Enterprise in the fourth quarter, increasing holdings by 102.8% to 98,853 shares valued at about $2.37 million.
• Analyst sentiment on HPE remains mixed but constructive, with firms like Bank of America, Citigroup, and Truist issuing or raising buy ratings and the stock carrying a Moderate Buy consensus price target of $27.88.
• Despite insider selling from CEO Antonio F. Neri and EVP Neil B. Macdonald, HPE reported earnings of $0.65 per share, beat estimates, and saw revenue rise 18.4% year over year; the stock also traded near its 52-week high at $38.24.

Allstate Corp boosted its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 102.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,853 shares of the technology company's stock after buying an additional 50,108 shares during the quarter. Allstate Corp's holdings in Hewlett Packard Enterprise were worth $2,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Hewlett Packard Enterprise by 176.7% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,043 shares of the technology company's stock worth $26,000 after purchasing an additional 666 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Hewlett Packard Enterprise during the second quarter valued at about $26,000. Chilton Capital Management LLC purchased a new stake in shares of Hewlett Packard Enterprise during the third quarter valued at about $30,000. Clearstead Trust LLC lifted its holdings in shares of Hewlett Packard Enterprise by 93.8% during the 3rd quarter. Clearstead Trust LLC now owns 1,291 shares of the technology company's stock valued at $32,000 after purchasing an additional 625 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at $34,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Hewlett Packard Enterprise from $29.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Hewlett Packard Enterprise in a report on Wednesday, March 25th. Citigroup lifted their price target on Hewlett Packard Enterprise from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Morgan Stanley boosted their price target on shares of Hewlett Packard Enterprise from $25.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. Finally, Truist Financial began coverage on Hewlett Packard Enterprise in a research note on Tuesday, March 31st. They set a "buy" rating and a $31.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.88.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, CEO Antonio F. Neri sold 264,432 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $25.18, for a total transaction of $6,658,397.76. Following the completion of the transaction, the chief executive officer owned 1,837,329 shares of the company's stock, valued at $46,263,944.22. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Neil B. Macdonald sold 112,652 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $25.09, for a total transaction of $2,826,438.68. Following the transaction, the executive vice president directly owned 56,494 shares of the company's stock, valued at approximately $1,417,434.46. This trade represents a 66.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 702,402 shares of company stock valued at $18,440,171 in the last ninety days. Company insiders own 0.44% of the company's stock.

Hewlett Packard Enterprise Trading Up 2.8%

Shares of HPE opened at $38.24 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.75 and a debt-to-equity ratio of 0.71. Hewlett Packard Enterprise Company has a 12-month low of $17.02 and a 12-month high of $38.58. The firm has a 50-day moving average price of $28.29 and a 200 day moving average price of $24.49. The firm has a market capitalization of $50.74 billion, a P/E ratio of -201.27, a P/E/G ratio of 0.95 and a beta of 1.28.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.31 billion. Hewlett Packard Enterprise had a negative net margin of 0.41% and a positive return on equity of 9.93%. Hewlett Packard Enterprise's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Hewlett Packard Enterprise has set its FY 2026 guidance at 2.300-2.500 EPS and its Q2 2026 guidance at 0.510-0.550 EPS. Sell-side analysts forecast that Hewlett Packard Enterprise Company will post 1.97 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Investors of record on Tuesday, March 24th were given a $0.1425 dividend. This represents a $0.57 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, March 24th. Hewlett Packard Enterprise's dividend payout ratio is presently -300.00%.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE's product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.

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