Corebridge Financial Inc. Cuts Holdings in Alcoa Co. (NYSE:AA)

Corebridge Financial Inc. cut its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,255 shares of the industrial products company's stock after selling 13,184 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Alcoa worth $11,041,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Alcoa by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after purchasing an additional 165,420 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Alcoa by 3.4% in the 4th quarter. LPL Financial LLC now owns 163,391 shares of the industrial products company's stock worth $6,173,000 after buying an additional 5,446 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Alcoa in the fourth quarter worth $1,485,000. Sei Investments Co. grew its holdings in shares of Alcoa by 25.6% in the fourth quarter. Sei Investments Co. now owns 107,460 shares of the industrial products company's stock worth $4,060,000 after acquiring an additional 21,918 shares during the period. Finally, Quantbot Technologies LP increased its position in Alcoa by 29.5% during the fourth quarter. Quantbot Technologies LP now owns 302,070 shares of the industrial products company's stock valued at $11,412,000 after acquiring an additional 68,878 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

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Alcoa Price Performance

NYSE:AA traded down $0.16 on Monday, reaching $30.50. 4,981,025 shares of the company's stock traded hands, compared to its average volume of 5,366,035. The stock has a 50-day simple moving average of $34.57 and a 200-day simple moving average of $38.18. Alcoa Co. has a 12 month low of $27.12 and a 12 month high of $47.77. The firm has a market cap of $7.90 billion, a PE ratio of -190.65, a P/E/G ratio of 0.19 and a beta of 2.55. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Equities research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, March 4th. Alcoa's payout ratio is currently -250.00%.

Analyst Ratings Changes

Several research analysts have issued reports on AA shares. B. Riley raised Alcoa to a "strong-buy" rating in a research report on Tuesday, January 21st. BMO Capital Markets raised their price objective on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the company a "buy" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Finally, Morgan Stanley reduced their price objective on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.92.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.