Convergence Investment Partners LLC Raises Stake in Hewlett Packard Enterprise (NYSE:HPE)

Convergence Investment Partners LLC raised its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 24.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 273,028 shares of the technology company’s stock after buying an additional 53,631 shares during the quarter. Hewlett Packard Enterprise comprises about 1.3% of Convergence Investment Partners LLC’s portfolio, making the stock its 11th biggest position. Convergence Investment Partners LLC’s holdings in Hewlett Packard Enterprise were worth $5,829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HPE. Hara Capital LLC bought a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $28,000. Key Financial Inc grew its position in shares of Hewlett Packard Enterprise by 17.7% during the 4th quarter. Key Financial Inc now owns 4,116 shares of the technology company’s stock valued at $88,000 after purchasing an additional 619 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Hewlett Packard Enterprise by 6.2% in the fourth quarter. Truist Financial Corp now owns 441,600 shares of the technology company’s stock worth $9,428,000 after purchasing an additional 25,836 shares during the period. CIBC Asset Management Inc raised its position in shares of Hewlett Packard Enterprise by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 227,021 shares of the technology company’s stock worth $4,847,000 after buying an additional 5,459 shares in the last quarter. Finally, Capital Performance Advisors LLP boosted its stake in Hewlett Packard Enterprise by 43.8% during the fourth quarter. Capital Performance Advisors LLP now owns 11,776 shares of the technology company’s stock valued at $251,000 after buying an additional 3,585 shares during the period. 80.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, Director Gary M. Reiner sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.47, for a total value of $1,173,500.00. Following the sale, the director now directly owns 104,192 shares of the company’s stock, valued at $2,445,386.24. This trade represents a 32.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Schultz sold 262,818 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total value of $5,682,125.16. Following the transaction, the executive vice president now directly owns 270,430 shares of the company’s stock, valued at $5,846,696.60. The trade was a 49.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 332,166 shares of company stock valued at $7,300,629 in the last quarter. Company insiders own 0.36% of the company’s stock.

Hewlett Packard Enterprise Stock Performance

Shares of HPE stock opened at $21.77 on Wednesday. The company has a market capitalization of $28.59 billion, a P/E ratio of 11.46, a PEG ratio of 2.01 and a beta of 1.19. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $24.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. The stock has a 50 day moving average price of $21.97 and a two-hundred day moving average price of $20.54.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, December 20th. This represents a $0.52 dividend on an annualized basis and a yield of 2.39%. Hewlett Packard Enterprise’s dividend payout ratio is currently 27.37%.

Analyst Ratings Changes

Several research firms have weighed in on HPE. Barclays raised their price target on Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, December 19th. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $23.00 to $29.00 in a report on Monday, November 18th. Stifel Nicolaus upped their target price on shares of Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Loop Capital increased their target price on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and an average target price of $24.00.

Hewlett Packard Enterprise Company 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.