Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,298 shares of the financial services provider's stock after selling 15,085 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.23% of Alexander & Baldwin worth $3,023,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Algert Global LLC boosted its holdings in shares of Alexander & Baldwin by 21.8% during the 4th quarter. Algert Global LLC now owns 97,607 shares of the financial services provider's stock worth $1,732,000 after purchasing an additional 17,477 shares during the last quarter. Jane Street Group LLC lifted its position in Alexander & Baldwin by 61.5% during the fourth quarter. Jane Street Group LLC now owns 152,759 shares of the financial services provider's stock worth $2,710,000 after buying an additional 58,143 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Alexander & Baldwin by 174.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 67,720 shares of the financial services provider's stock worth $1,201,000 after buying an additional 43,090 shares during the last quarter. Northern Trust Corp grew its holdings in Alexander & Baldwin by 23.5% in the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock valued at $18,110,000 after buying an additional 194,534 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in shares of Alexander & Baldwin in the 4th quarter worth $236,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Analysts Set New Price Targets

ALEX has been the topic of several recent research reports. Wall Street Zen cut shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Piper Sandler boosted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th.

Alexander & Baldwin Trading Up 1.3%

Shares of NYSE ALEX traded up $0.23 during mid-day trading on Thursday, reaching $17.91. 323,777 shares of the company's stock were exchanged, compared to its average volume of 391,182. The company's 50-day moving average is $17.07 and its 200-day moving average is $17.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.89 and a beta of 0.99. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.