Man Group plc Cuts Stake in HP Inc. (NYSE:HPQ)

Man Group plc trimmed its holdings in HP Inc. (NYSE:HPQ - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,452 shares of the computer maker's stock after selling 153,197 shares during the period. Man Group plc owned approximately 0.05% of HP worth $15,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meridiem Capital Partners LP bought a new position in shares of HP during the 4th quarter valued at $6,041,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in HP by 141.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 510,239 shares of the computer maker's stock valued at $16,649,000 after acquiring an additional 298,752 shares during the period. Lazard Asset Management LLC increased its holdings in shares of HP by 98.2% during the fourth quarter. Lazard Asset Management LLC now owns 3,251 shares of the computer maker's stock valued at $106,000 after acquiring an additional 1,611 shares in the last quarter. Janus Henderson Group PLC boosted its stake in HP by 6.8% during the 4th quarter. Janus Henderson Group PLC now owns 150,725 shares of the computer maker's stock valued at $4,916,000 after purchasing an additional 9,568 shares during the last quarter. Finally, Humankind Investments LLC raised its stake in HP by 2.5% during the 4th quarter. Humankind Investments LLC now owns 33,759 shares of the computer maker's stock valued at $1,102,000 after buying an additional 829 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. StockNews.com raised shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Evercore ISI lowered their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, TD Cowen decreased their target price on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $34.17.

HP Stock Down 0.4%

Shares of NYSE:HPQ traded down $0.12 on Tuesday, reaching $28.98. The company had a trading volume of 7,766,680 shares, compared to its average volume of 7,898,631. The stock has a market capitalization of $27.32 billion, a P/E ratio of 10.31, a P/E/G ratio of 2.96 and a beta of 1.32. The stock has a 50-day moving average price of $26.15 and a 200 day moving average price of $31.20. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.99%. The ex-dividend date is Wednesday, June 11th. HP's payout ratio is presently 41.37%.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. This represents a 99.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.