Corebridge Financial Inc. Cuts Stake in Harley-Davidson, Inc. (NYSE:HOG)

Corebridge Financial Inc. cut its holdings in Harley-Davidson, Inc. (NYSE:HOG) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,693 shares of the company’s stock after selling 10,409 shares during the period. Corebridge Financial Inc.’s holdings in Harley-Davidson were worth $3,908,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Harley-Davidson by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 5,468,089 shares of the company’s stock valued at $164,754,000 after buying an additional 1,285,225 shares during the last quarter. American Century Companies Inc. boosted its holdings in Harley-Davidson by 14.2% during the 4th quarter. American Century Companies Inc. now owns 3,496,579 shares of the company’s stock valued at $105,352,000 after acquiring an additional 435,200 shares during the period. Bank of New York Mellon Corp increased its stake in Harley-Davidson by 12.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,470,130 shares of the company’s stock worth $44,295,000 after purchasing an additional 157,939 shares during the period. Raymond James Financial Inc. bought a new stake in Harley-Davidson in the fourth quarter valued at approximately $18,802,000. Finally, JPMorgan Chase & Co. lifted its position in Harley-Davidson by 38.6% in the third quarter. JPMorgan Chase & Co. now owns 533,490 shares of the company’s stock valued at $20,555,000 after purchasing an additional 148,537 shares during the last quarter. 85.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson decreased their target price on shares of Harley-Davidson from $39.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley decreased their price objective on shares of Harley-Davidson from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Bank of America lowered their price objective on shares of Harley-Davidson from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Robert W. Baird cut their target price on Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 31st. Finally, Citigroup lowered their price target on Harley-Davidson from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.57.

Insider Activity

In other news, insider Luke Christopher Mansfield sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $25.96, for a total value of $88,264.00. Following the sale, the insider now directly owns 23,555 shares of the company’s stock, valued at $611,487.80. The trade was a 12.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Harley-Davidson Price Performance

Shares of NYSE HOG opened at $25.08 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.40 and a quick ratio of 1.19. Harley-Davidson, Inc. has a 1 year low of $23.81 and a 1 year high of $43.89. The company’s 50-day moving average is $26.29 and its 200 day moving average is $30.82. The stock has a market capitalization of $3.12 billion, a P/E ratio of 7.53, a P/E/G ratio of 0.38 and a beta of 1.49.

Harley-Davidson (NYSE:HOG) last announced its earnings results on Wednesday, February 5th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Harley-Davidson had a return on equity of 13.64% and a net margin of 9.25%. During the same period in the prior year, the business posted $0.18 earnings per share. On average, sell-side analysts expect that Harley-Davidson, Inc. will post 3.44 earnings per share for the current year.

Harley-Davidson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, February 28th. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.17. Harley-Davidson’s payout ratio is 21.62%.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.