Jennison Associates LLC Makes New Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Jennison Associates LLC purchased a new position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 41,177 shares of the financial services provider's stock, valued at approximately $730,000. Jennison Associates LLC owned approximately 0.06% of Alexander & Baldwin at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALEX. GAMMA Investing LLC boosted its holdings in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock worth $29,000 after buying an additional 759 shares during the period. Versant Capital Management Inc boosted its stake in Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock worth $39,000 after purchasing an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alexander & Baldwin by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock worth $54,000 after purchasing an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV raised its stake in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 1,338 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALEX shares. StockNews.com raised Alexander & Baldwin from a "hold" rating to a "buy" rating in a research report on Thursday. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Alexander & Baldwin has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Alexander & Baldwin Stock Up 0.4 %

Shares of Alexander & Baldwin stock traded up $0.07 on Monday, hitting $17.99. 193,765 shares of the company traded hands, compared to its average volume of 287,433. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a 50-day moving average price of $18.01 and a 200 day moving average price of $18.77. The company has a market cap of $1.31 billion, a PE ratio of 29.01 and a beta of 1.29.

Alexander & Baldwin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 4.95%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin's payout ratio is currently 145.16%.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.