CANADA LIFE ASSURANCE Co Sells 140,297 Shares of HP Inc. (NYSE:HPQ)

CANADA LIFE ASSURANCE Co lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,980,298 shares of the computer maker's stock after selling 140,297 shares during the period. CANADA LIFE ASSURANCE Co owned 0.21% of HP worth $64,519,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of HP during the 4th quarter worth about $229,320,000. KBC Group NV grew its holdings in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of HP in the fourth quarter worth $65,260,000. Bridgewater Associates LP raised its holdings in HP by 115.2% in the 4th quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker's stock worth $92,580,000 after acquiring an additional 1,518,653 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in HP during the fourth quarter valued at about $36,492,000. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

HP Stock Performance

HP stock traded up $0.37 during trading hours on Tuesday, hitting $24.12. 3,925,986 shares of the stock were exchanged, compared to its average volume of 7,849,267. The stock has a market capitalization of $22.74 billion, a P/E ratio of 8.59, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The business's 50-day moving average is $28.38 and its two-hundred day moving average is $32.62.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.80%. HP's dividend payout ratio is currently 41.37%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPQ. StockNews.com cut shares of HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Loop Capital decreased their target price on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Morgan Stanley reduced their target price on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $34.00.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.