Allstate Corp Purchases Shares of 38,651 Hewlett Packard Enterprise (NYSE:HPE)

Allstate Corp acquired a new position in Hewlett Packard Enterprise (NYSE:HPE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 38,651 shares of the technology company’s stock, valued at approximately $825,000.

Several other institutional investors have also recently made changes to their positions in the business. Hara Capital LLC purchased a new position in Hewlett Packard Enterprise in the 4th quarter worth approximately $28,000. Tandem Financial LLC bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $32,000. R Squared Ltd purchased a new position in shares of Hewlett Packard Enterprise in the fourth quarter worth $45,000. Tompkins Financial Corp boosted its position in shares of Hewlett Packard Enterprise by 397.9% during the fourth quarter. Tompkins Financial Corp now owns 2,878 shares of the technology company’s stock worth $61,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in Hewlett Packard Enterprise during the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Price Performance

HPE stock opened at $15.51 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 12 month low of $14.64 and a 12 month high of $24.66. The stock has a market cap of $20.37 billion, a PE ratio of 8.16, a P/E/G ratio of 2.03 and a beta of 1.20. The company has a 50-day moving average price of $19.40 and a 200 day moving average price of $20.45.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a $0.13 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.52 annualized dividend and a dividend yield of 3.35%. Hewlett Packard Enterprise’s payout ratio is 25.37%.

Analyst Ratings Changes

Several brokerages have commented on HPE. Daiwa America cut shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 12th. StockNews.com downgraded Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Citigroup upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $26.00 in a report on Friday, December 6th. Barclays decreased their price objective on Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price on Hewlett Packard Enterprise from $22.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Hewlett Packard Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.27.

Insider Buying and Selling

In related news, SVP Jeremy Cox sold 11,577 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the transaction, the senior vice president now owns 48,615 shares of the company’s stock, valued at $1,118,145. This trade represents a 19.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.

Hewlett Packard Enterprise Profile

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. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.