Legal & General Group Plc Sells 3,873,872 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Legal & General Group Plc lessened its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,495,934 shares of the technology company’s stock after selling 3,873,872 shares during the quarter. Legal & General Group Plc owned about 1.10% of Hewlett Packard Enterprise worth $309,488,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Hewlett Packard Enterprise in the fourth quarter valued at approximately $292,959,000. Norges Bank bought a new stake in Hewlett Packard Enterprise during the 4th quarter valued at $119,067,000. Boston Partners raised its holdings in Hewlett Packard Enterprise by 19.1% during the fourth quarter. Boston Partners now owns 12,848,336 shares of the technology company’s stock worth $276,075,000 after buying an additional 2,058,562 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Hewlett Packard Enterprise by 35.1% in the fourth quarter. Nordea Investment Management AB now owns 7,253,035 shares of the technology company’s stock valued at $155,142,000 after buying an additional 1,885,559 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Hewlett Packard Enterprise during the fourth quarter valued at about $34,778,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hewlett Packard Enterprise

In other news, Director Bethany Mayer sold 6,409 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $13.19, for a total value of $84,534.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.

Hewlett Packard Enterprise Trading Down 6.2 %

Shares of Hewlett Packard Enterprise stock opened at $12.50 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. The stock has a market capitalization of $16.42 billion, a P/E ratio of 6.58, a P/E/G ratio of 2.03 and a beta of 1.20. Hewlett Packard Enterprise has a 52-week low of $11.97 and a 52-week high of $24.66. The stock’s 50-day simple moving average is $18.07 and its 200 day simple moving average is $20.23.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, March 21st. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 25.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HPE. Bank of America lowered their target price on shares of Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Daiwa Capital Markets lowered Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Wednesday, March 12th. Wells Fargo & Company decreased their price target on Hewlett Packard Enterprise from $22.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, December 19th. Finally, Barclays reduced their target price on shares of Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of “Hold” and a consensus target price of $20.60.

About Hewlett Packard Enterprise

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.