Principal Financial Group Inc. Sells 15,762 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Principal Financial Group Inc. decreased its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,337 shares of the financial services provider’s stock after selling 15,762 shares during the period. Principal Financial Group Inc.’s holdings in Alexander & Baldwin were worth $6,573,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its holdings in Alexander & Baldwin by 19.9% in the 3rd 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. Oppenheimer Asset Management Inc. grew its stake in shares of Alexander & Baldwin by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 683 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares during the last quarter. Van ECK Associates Corp lifted its position in Alexander & Baldwin by 7.0% during the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 733 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 759 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALEX shares. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler reissued an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $17.74 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a 50-day simple moving average of $18.91 and a two-hundred day simple moving average of $18.67. The firm has a market capitalization of $1.29 billion, a PE ratio of 28.61 and a beta of 1.27. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30.

Alexander & Baldwin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is 145.16%.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.