Corebridge Financial Inc. Decreases Stock Holdings in XPO, Inc. (NYSE:XPO)

Corebridge Financial Inc. lessened its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,011 shares of the transportation company's stock after selling 5,957 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of XPO worth $17,444,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp grew its stake in XPO by 159.1% during the 3rd quarter. Stifel Financial Corp now owns 70,407 shares of the transportation company's stock valued at $7,569,000 after acquiring an additional 43,237 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of XPO in the third quarter valued at approximately $534,000. Natixis Advisors LLC increased its holdings in shares of XPO by 42.8% in the fourth quarter. Natixis Advisors LLC now owns 61,414 shares of the transportation company's stock valued at $8,054,000 after purchasing an additional 18,398 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in XPO during the fourth quarter worth approximately $423,000. Finally, JPMorgan Chase & Co. boosted its stake in XPO by 36.2% during the third quarter. JPMorgan Chase & Co. now owns 698,831 shares of the transportation company's stock worth $75,131,000 after buying an additional 185,686 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at XPO

In related news, COO David J. Bates purchased 1,880 shares of XPO stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $106.16 per share, with a total value of $199,580.80. Following the transaction, the chief operating officer now directly owns 21,106 shares of the company's stock, valued at approximately $2,240,612.96. This trade represents a 9.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

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XPO Stock Down 4.2 %

Shares of NYSE XPO traded down $4.74 during midday trading on Friday, hitting $108.48. The company's stock had a trading volume of 705,957 shares, compared to its average volume of 1,540,648. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. The business's fifty day simple moving average is $126.59 and its two-hundred day simple moving average is $129.53. XPO, Inc. has a 1 year low of $97.03 and a 1 year high of $161.00.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. On average, equities analysts predict that XPO, Inc. will post 4.15 EPS for the current year.

XPO announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 27th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Vertical Research raised XPO from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Thursday, March 6th. Bank of America reduced their target price on shares of XPO from $150.00 to $131.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price target on shares of XPO from $170.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday. Oppenheimer upped their price objective on XPO from $148.00 to $176.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their target price on XPO from $146.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $155.37.

XPO Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.