Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 511,422 shares of the financial services provider's stock after selling 29,246 shares during the period. Legal & General Group Plc owned approximately 0.70% of Alexander & Baldwin worth $9,073,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock worth $15,612,000 after acquiring an additional 297,044 shares in the last quarter. Norges Bank acquired a new stake in shares of Alexander & Baldwin during the 4th quarter worth $5,236,000. Regency Capital Management Inc. DE boosted its holdings in shares of Alexander & Baldwin by 59.6% in the 4th quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider's stock valued at $7,641,000 after purchasing an additional 160,928 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alexander & Baldwin during the fourth quarter worth about $1,467,000. Finally, Alliancebernstein L.P. grew its stake in shares of Alexander & Baldwin by 85.7% during the fourth quarter. Alliancebernstein L.P. now owns 177,298 shares of the financial services provider's stock worth $3,145,000 after buying an additional 81,811 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Finally, Piper Sandler upped their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th.

Alexander & Baldwin Trading Down 0.5 %

NYSE:ALEX traded down $0.09 during trading hours on Wednesday, reaching $16.73. The company's stock had a trading volume of 49,608 shares, compared to its average volume of 452,442. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a 1 year low of $15.70 and a 1 year high of $20.30. The firm has a 50-day simple moving average of $17.29 and a 200-day simple moving average of $18.05. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 26.98 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The firm had revenue of $62.45 million for the quarter, compared to analysts' expectations of $49.68 million. Research analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a $0.225 dividend. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Friday, March 14th. Alexander & Baldwin's payout ratio is currently 107.14%.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.