Corebridge Financial Inc. Sells 10,614 Shares of Ball Corporation $BALL

Key Points

• Corebridge Financial Inc. has decreased its holdings in Ball Corporation by 13.4% in Q1, now owning 68,546 shares valued at approximately $3.57 million.
• JPMorgan Chase & Co. notably increased its position in Ball by 44.2%, acquiring an additional 2.45 million shares during the same period.
• Ball Corporation has a consensus rating of "Hold" among analysts, with target prices ranging from $54.00 to $70.00.

Corebridge Financial Inc. lessened its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,546 shares of the company's stock after selling 10,614 shares during the period. Corebridge Financial Inc.'s holdings in Ball were worth $3,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Ball by 41.2% in the fourth quarter. Brighton Jones LLC now owns 5,245 shares of the company's stock valued at $289,000 after purchasing an additional 1,531 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Ball during the fourth quarter valued at approximately $275,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Ball in the 4th quarter worth $6,380,000. AXA S.A. increased its stake in Ball by 8.8% in the 4th quarter. AXA S.A. now owns 302,288 shares of the company's stock worth $16,665,000 after purchasing an additional 24,373 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Ball during the 4th quarter worth about $30,883,000. Hedge funds and other institutional investors own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

BALL has been the topic of several analyst reports. Loop Capital decreased their price objective on Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price objective on Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Truist Financial raised their target price on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Royal Bank Of Canada boosted their target price on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Barclays cut their price target on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $65.27.

Insider Transactions at Ball

In other Ball news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $51.55, for a total transaction of $175,270.00. Following the completion of the transaction, the chairman owned 10,036 shares in the company, valued at approximately $517,355.80. The trade was a 25.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company's stock.

Ball Price Performance

BALL traded down $0.08 on Thursday, reaching $50.07. The company had a trading volume of 889,743 shares, compared to its average volume of 2,615,370. The business has a 50 day simple moving average of $55.90 and a 200 day simple moving average of $53.17. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.20 and a beta of 1.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.10 billion. Ball had a return on equity of 16.81% and a net margin of 4.49%.Ball's revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, sell-side analysts anticipate that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ball's dividend payout ratio is currently 41.45%.

Ball Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.