Fifth Third Bancorp Sells 28,388 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• Fifth Third Bancorp sharply reduced its BHP stake in the fourth quarter, selling 28,388 shares and cutting its position by 93.4% to 2,013 shares worth about $122,000.
• Institutional ownership activity was mixed, with several funds increasing their BHP holdings while others adjusted positions; overall, institutional investors hold 3.79% of the company.
• Analyst sentiment remains cautious, with BHP carrying a consensus rating of “Hold” and an average price target of $62.33, even after Goldman Sachs upgraded the stock to “strong-buy.”

Fifth Third Bancorp decreased its position in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 93.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,013 shares of the mining company's stock after selling 28,388 shares during the period. Fifth Third Bancorp's holdings in BHP Group were worth $122,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of BHP Group by 230.0% during the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company's stock worth $1,546,000 after purchasing an additional 22,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BHP Group by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company's stock valued at $660,000 after purchasing an additional 2,331 shares in the last quarter. Invesco Ltd. lifted its position in BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company's stock worth $601,000 after purchasing an additional 6,241 shares during the period. EverSource Wealth Advisors LLC lifted its position in BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company's stock worth $182,000 after purchasing an additional 2,395 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in BHP Group by 13.0% during the second quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company's stock worth $803,000 after buying an additional 1,917 shares in the last quarter. Institutional investors own 3.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BHP. Weiss Ratings reissued a "hold (c)" rating on shares of BHP Group in a report on Monday, April 20th. Sanford C. Bernstein decreased their target price on shares of BHP Group from $49.50 to $48.00 and set a "market perform" rating on the stock in a research report on Monday, March 9th. Argus set a $95.00 target price on shares of BHP Group in a research note on Monday, April 27th. Zacks Research lowered shares of BHP Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Finally, The Goldman Sachs Group upgraded shares of BHP Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $62.33.

BHP Group Price Performance

Shares of NYSE BHP opened at $84.75 on Friday. BHP Group Limited Sponsored ADR has a 1-year low of $45.74 and a 1-year high of $85.14. The company has a 50-day moving average of $75.42 and a two-hundred day moving average of $66.82. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

BHP Group Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 6th were given a $1.46 dividend. This represents a yield of 399.0%. The ex-dividend date was Friday, March 6th.

BHP Group Company Profile

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.

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