The Manufacturers Life Insurance Company Buys 30,294 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• The Manufacturers Life Insurance Company increased its BHP Group stake by 36.3% in the first quarter, purchasing 30,294 additional shares for a total holding of 113,707 shares valued at approximately $8.27 million.
• Other institutional investors also raised or initiated positions, though institutional ownership remains relatively limited at 3.79% of outstanding shares.
• BHP shares recently traded at $87.48, near their 12-month high, while analysts maintained a consensus “Hold” rating with an average target price of $78.00.

The Manufacturers Life Insurance Company boosted its stake in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 36.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 113,707 shares of the mining company's stock after buying an additional 30,294 shares during the period. The Manufacturers Life Insurance Company's holdings in BHP Group were worth $8,271,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quantinno Capital Management LP boosted its stake in BHP Group by 21.5% during the first quarter. Quantinno Capital Management LP now owns 493,604 shares of the mining company's stock worth $35,905,000 after buying an additional 87,378 shares during the period. Gateway Wealth Partners LLC purchased a new stake in shares of BHP Group in the first quarter valued at $238,000. Bridgewater Advisors Inc. raised its stake in shares of BHP Group by 8.0% in the first quarter. Bridgewater Advisors Inc. now owns 6,687 shares of the mining company's stock valued at $486,000 after acquiring an additional 494 shares during the period. Bollard Group LLC lifted its holdings in shares of BHP Group by 4.2% in the 1st quarter. Bollard Group LLC now owns 8,676 shares of the mining company's stock worth $631,000 after acquiring an additional 352 shares during the last quarter. Finally, Compound Planning Inc. lifted its holdings in shares of BHP Group by 18.2% in the 1st quarter. Compound Planning Inc. now owns 37,239 shares of the mining company's stock worth $2,709,000 after acquiring an additional 5,746 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors.

BHP Group Stock Up 4.8%

NYSE BHP opened at $87.48 on Wednesday. BHP Group Limited Sponsored ADR has a 12 month low of $51.13 and a 12 month high of $93.83. The company's 50-day moving average price is $84.87 and its 200-day moving average price is $78.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BHP. Citigroup reaffirmed a "neutral" rating on shares of BHP Group in a research note on Monday, June 8th. Wall Street Zen downgraded shares of BHP Group from a "buy" rating to a "hold" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. DZ Bank raised BHP Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Finally, Zacks Research downgraded BHP Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.00.

BHP Group 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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