Corebridge Financial Inc. Decreases Stock Position in Hewlett Packard Enterprise Company $HPE

Key Points

• Corebridge Financial Inc. reduced its stake in Hewlett Packard Enterprise by 3.9%, owning 486,133 shares valued at approximately $7.5 million after selling 19,819 shares during the first quarter.
• Hewlett Packard Enterprise recently reported earnings of $0.38 EPS for the quarter, surpassing analyst expectations, with revenue of $7.63 billion, a 5.9% increase compared to the prior year.
• The company announced a quarterly dividend of $0.13 per share, with a dividend yield of 2.2% and a payout ratio of 52.53%.

Corebridge Financial Inc. reduced its position in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 486,133 shares of the technology company's stock after selling 19,819 shares during the quarter. Corebridge Financial Inc.'s holdings in Hewlett Packard Enterprise were worth $7,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in Hewlett Packard Enterprise in the first quarter worth $301,000. Mirae Asset Global Investments Co. Ltd. increased its position in Hewlett Packard Enterprise by 22.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,320 shares of the technology company's stock worth $2,421,000 after buying an additional 28,123 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Hewlett Packard Enterprise in the first quarter worth $164,000. Farther Finance Advisors LLC increased its position in Hewlett Packard Enterprise by 2.3% in the first quarter. Farther Finance Advisors LLC now owns 31,437 shares of the technology company's stock worth $492,000 after buying an additional 699 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Hewlett Packard Enterprise by 21.2% in the first quarter. Exchange Traded Concepts LLC now owns 14,108 shares of the technology company's stock worth $218,000 after buying an additional 2,466 shares during the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price target on Hewlett Packard Enterprise from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. assumed coverage on Hewlett Packard Enterprise in a report on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price target for the company. Wall Street Zen raised Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. UBS Group raised their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Loop Capital raised their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.33.

Hewlett Packard Enterprise Price Performance

HPE stock traded down $0.03 during mid-day trading on Tuesday, hitting $22.55. 16,149,132 shares of the stock were exchanged, compared to its average volume of 18,793,396. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. The business has a fifty day moving average price of $20.88 and a 200 day moving average price of $18.32. Hewlett Packard Enterprise Company has a 12 month low of $11.97 and a 12 month high of $24.66. The stock has a market capitalization of $29.58 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 3.28 and a beta of 1.43.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. Hewlett Packard Enterprise had a return on equity of 9.59% and a net margin of 4.60%.The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.51 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company's revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Hewlett Packard Enterprise Company will post 1.85 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 2.3%. Hewlett Packard Enterprise's payout ratio is 52.53%.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $18.44, for a total transaction of $1,264,799.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $20.54, for a total value of $616,200.00. Following the sale, the executive vice president directly owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 378,590 shares of company stock valued at $8,106,833 over the last 90 days. Insiders own 0.36% of the company's stock.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.