Prudential Financial Inc. Grows Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Prudential Financial Inc. lifted its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 32.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,997 shares of the financial services provider’s stock after purchasing an additional 24,700 shares during the quarter. Prudential Financial Inc. owned 0.14% of Alexander & Baldwin worth $1,774,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ALEX. Point72 Asia Singapore Pte. Ltd. boosted its stake in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Alexander & Baldwin by 2.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 648 shares during the last quarter. American Century Companies Inc. raised its position in Alexander & Baldwin by 3.4% in the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 797 shares during the period. 1620 Investment Advisors Inc. boosted its position in Alexander & Baldwin by 4.4% during the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider’s stock valued at $371,000 after buying an additional 879 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares during the period. 91.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ALEX. StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler increased their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $16.52 on Friday. The business has a 50 day moving average of $17.70 and a 200 day moving average of $18.32. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a market cap of $1.20 billion, a PE ratio of 26.65 and a beta of 1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. As a group, equities research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.45%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s payout ratio is presently 107.14%.

Alexander & Baldwin 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.