Fifth Third Bancorp Lowers Holdings in Hewlett Packard Enterprise Company $HPE

Key Points

• Fifth Third Bancorp reduced its stake in Hewlett Packard Enterprise by 18.6% during the second quarter, leaving it with 128,592 shares valued at approximately $2.63 million.
• Analysts have recently adjusted their price targets for HPE, with Evercore ISI raising its target from $25 to $28, while Bank of America increased its target from $24 to $25.
• Hewlett Packard Enterprise announced a quarterly dividend of $0.13 per share, reflecting an annualized yield of 2.2%, to be paid on October 17th.

Fifth Third Bancorp decreased its stake in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 18.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,592 shares of the technology company's stock after selling 29,443 shares during the quarter. Fifth Third Bancorp's holdings in Hewlett Packard Enterprise were worth $2,630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HPE. Ameriflex Group Inc. purchased a new stake in Hewlett Packard Enterprise in the 4th quarter worth approximately $31,000. Alpine Bank Wealth Management purchased a new stake in Hewlett Packard Enterprise in the 1st quarter worth approximately $25,000. Bruce G. Allen Investments LLC boosted its holdings in Hewlett Packard Enterprise by 345.0% during the first quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock worth $26,000 after buying an additional 1,318 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Hewlett Packard Enterprise during the first quarter worth $27,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in Hewlett Packard Enterprise during the first quarter worth $31,000. Hedge funds and other institutional investors own 80.78% of the company's stock.

Analyst Ratings Changes

HPE has been the topic of several recent analyst reports. Evercore ISI increased their target price on shares of Hewlett Packard Enterprise from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Sanford C. Bernstein started coverage on Hewlett Packard Enterprise in a research report on Tuesday, September 16th. They set a "market perform" rating and a $24.00 price target on the stock. UBS Group increased their price target on Hewlett Packard Enterprise from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Bank of America increased their target price on Hewlett Packard Enterprise from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, KeyCorp started coverage on Hewlett Packard Enterprise in a research report on Thursday, June 26th. They set a "sector weight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.81.

Hewlett Packard Enterprise Trading Down 0.8%

Shares of HPE stock opened at $24.01 on Friday. The stock's fifty day moving average is $22.37 and its two-hundred day moving average is $18.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.95. The firm has a market capitalization of $31.68 billion, a P/E ratio of 29.28, a PEG ratio of 2.49 and a beta of 1.43. Hewlett Packard Enterprise Company has a fifty-two week low of $11.97 and a fifty-two week high of $25.36.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, September 18th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 18th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is 63.41%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. Following the transaction, the executive vice president owned 42,427 shares in the company, valued at $871,450.58. The trade was a 41.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Reiner sold 40,000 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $24.58, for a total transaction of $983,200.00. Following the transaction, the director directly owned 83,869 shares in the company, valued at $2,061,500.02. This trade represents a 32.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 573,738 shares of company stock valued at $13,539,132. Company insiders own 0.36% of the company's stock.

Hewlett Packard Enterprise Company 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.

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