Principal Financial Group Inc. Lowers Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Principal Financial Group Inc. trimmed its holdings in Hewlett Packard Enterprise (NYSE:HPEGet Rating) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,637,043 shares of the technology company’s stock after selling 123,053 shares during the period. Principal Financial Group Inc. owned about 0.13% of Hewlett Packard Enterprise worth $21,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. CX Institutional purchased a new position in shares of Hewlett Packard Enterprise in the second quarter valued at about $30,000. LS Investment Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise in the second quarter worth about $32,000. First Manhattan Co. lifted its position in shares of Hewlett Packard Enterprise by 89.4% in the first quarter. First Manhattan Co. now owns 2,413 shares of the technology company’s stock worth $40,000 after buying an additional 1,139 shares in the last quarter. Urban Wealth Management LLC purchased a new stake in shares of Hewlett Packard Enterprise in the second quarter worth about $35,000. Finally, BDO Wealth Advisors LLC lifted its position in shares of Hewlett Packard Enterprise by 161.9% in the first quarter. BDO Wealth Advisors LLC now owns 2,912 shares of the technology company’s stock worth $49,000 after buying an additional 1,800 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Trading Up 1.5 %

HPE opened at $15.77 on Monday. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 2.99 and a beta of 1.20. The stock’s 50 day moving average price is $13.42 and its 200-day moving average price is $13.97. Hewlett Packard Enterprise has a one year low of $11.90 and a one year high of $17.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.66 and a current ratio of 0.92.

Hewlett Packard Enterprise (NYSE:HPEGet Rating) last released its earnings results on Tuesday, August 30th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Hewlett Packard Enterprise had a return on equity of 18.25% and a net margin of 13.31%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities analysts forecast that Hewlett Packard Enterprise will post 1.27 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Monday, September 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.04%. Hewlett Packard Enterprise’s dividend payout ratio is 17.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HPE. Citigroup decreased their target price on Hewlett Packard Enterprise from $13.50 to $11.50 and set a “sell” rating on the stock in a research report on Thursday, October 20th. Barclays decreased their target price on Hewlett Packard Enterprise from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Credit Suisse Group decreased their target price on Hewlett Packard Enterprise from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Morgan Stanley decreased their target price on Hewlett Packard Enterprise from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 11th. Finally, KGI Securities downgraded Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.15.

Insider Activity

In related news, CFO Tarek Robbiati sold 80,421 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $14.28, for a total value of $1,148,411.88. Following the completion of the sale, the chief financial officer now owns 133,321 shares in the company, valued at $1,903,823.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Tarek Robbiati sold 80,421 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $14.28, for a total value of $1,148,411.88. Following the completion of the sale, the chief financial officer now owns 133,321 shares in the company, valued at $1,903,823.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neil B. Macdonald sold 2,452 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $13.60, for a total value of $33,347.20. Following the completion of the sale, the executive vice president now owns 9,360 shares of the company’s stock, valued at approximately $127,296. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,988 shares of company stock valued at $2,116,392. 0.45% of the stock is currently owned by insiders.

About Hewlett Packard Enterprise

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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. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

See Also

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Institutional Ownership by Quarter for Hewlett Packard Enterprise (NYSE:HPE)

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