Corebridge Financial Inc. Sells 57 Shares of Corpay, Inc. (NYSE:CPAY)

Corebridge Financial Inc. lowered its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,427 shares of the company’s stock after selling 57 shares during the period. Corebridge Financial Inc.’s holdings in Corpay were worth $6,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after purchasing an additional 120,688 shares during the period. LPL Financial LLC raised its stake in Corpay by 19.7% during the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company’s stock valued at $3,324,000 after buying an additional 1,620 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Corpay in the fourth quarter valued at about $933,000. KLP Kapitalforvaltning AS bought a new position in shares of Corpay in the 4th quarter worth approximately $15,536,000. Finally, Sei Investments Co. raised its position in Corpay by 8.0% in the fourth quarter. Sei Investments Co. now owns 52,150 shares of the company’s stock worth $17,649,000 after acquiring an additional 3,882 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.10% of the company’s stock.

Corpay Price Performance

Shares of CPAY stock opened at $346.79 on Friday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock has a fifty day simple moving average of $363.75 and a two-hundred day simple moving average of $351.85. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CPAY shares. BMO Capital Markets raised their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Raymond James decreased their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods increased their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup assumed coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $399.71.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.