Corebridge Financial Inc. Decreases Stake in Booz Allen Hamilton Holding Co. (NYSE:BAH)

Corebridge Financial Inc. lessened its holdings in Booz Allen Hamilton Holding Co. (NYSE:BAH) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,325 shares of the business services provider’s stock after selling 134 shares during the period. Corebridge Financial Inc.’s holdings in Booz Allen Hamilton were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in Booz Allen Hamilton by 2.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,313 shares of the business services provider’s stock valued at $1,028,000 after purchasing an additional 179 shares during the period. Integrated Wealth Concepts LLC bought a new position in Booz Allen Hamilton during the third quarter valued at about $225,000. Quantinno Capital Management LP increased its holdings in Booz Allen Hamilton by 5.6% during the third quarter. Quantinno Capital Management LP now owns 4,931 shares of the business services provider’s stock worth $803,000 after buying an additional 261 shares during the last quarter. MML Investors Services LLC raised its position in Booz Allen Hamilton by 3.0% in the third quarter. MML Investors Services LLC now owns 40,390 shares of the business services provider’s stock worth $6,574,000 after acquiring an additional 1,160 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Booz Allen Hamilton by 6.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 37,027 shares of the business services provider’s stock valued at $6,027,000 after acquiring an additional 2,328 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

Booz Allen Hamilton Price Performance

Shares of NYSE:BAH opened at $108.73 on Friday. The company has a 50 day moving average of $112.76 and a 200 day moving average of $136.74. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.72. The stock has a market cap of $13.77 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.25 and a beta of 0.58. Booz Allen Hamilton Holding Co. has a 12 month low of $101.05 and a 12 month high of $190.59.

Booz Allen Hamilton (NYSE:BAH) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Booz Allen Hamilton had a net margin of 7.39% and a return on equity of 68.97%. As a group, sell-side analysts forecast that Booz Allen Hamilton Holding Co. will post 6.44 EPS for the current fiscal year.

Booz Allen Hamilton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, February 14th. This is an increase from Booz Allen Hamilton’s previous quarterly dividend of $0.51. Booz Allen Hamilton’s dividend payout ratio (DPR) is 32.79%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BAH. Barclays raised shares of Booz Allen Hamilton from an “underweight” rating to an “equal weight” rating and set a $140.00 price target on the stock in a report on Monday, January 6th. William Blair lowered Booz Allen Hamilton from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Raymond James upgraded Booz Allen Hamilton from a “market perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Monday, February 3rd. Cantor Fitzgerald upgraded Booz Allen Hamilton to a “strong-buy” rating in a research note on Tuesday, February 25th. Finally, TD Cowen cut their target price on shares of Booz Allen Hamilton from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Booz Allen Hamilton has an average rating of “Hold” and an average target price of $156.82.

Booz Allen Hamilton Company Profile

Booz Allen Hamilton Holding Corporation provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services to governments, corporations, and not-for-profit organizations in the United States and internationally. It focuses on artificial intelligence services comprising of machine learning, predictive modeling, automation and decision analytics, and quantum computing.