Conning Inc. Has $31.41 Million Stake in HP Inc. (NYSE:HPQ)

Conning Inc. decreased its position in shares of HP Inc. (NYSE:HPQ) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,046,234 shares of the computer maker’s stock after selling 46,048 shares during the period. Conning Inc. owned 0.11% of HP worth $31,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. raised its position in shares of HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after buying an additional 362 shares during the last quarter. Horizon Investments LLC raised its position in shares of HP by 3.3% during the second quarter. Horizon Investments LLC now owns 12,002 shares of the computer maker’s stock valued at $369,000 after buying an additional 379 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after buying an additional 380 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of HP by 18.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after buying an additional 382 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in shares of HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

HP stock traded down $0.70 during trading hours on Friday, hitting $28.53. 7,626,113 shares of the stock were exchanged, compared to its average volume of 6,360,859. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The business’s 50-day moving average is $29.39 and its two-hundred day moving average is $28.73. The stock has a market capitalization of $27.98 billion, a P/E ratio of 8.34, a P/E/G ratio of 2.39 and a beta of 1.05.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. HP’s revenue was down 4.4% compared to the same quarter last year. On average, equities analysts predict that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.2756 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.86%. HP’s dividend payout ratio (DPR) is currently 32.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HSBC raised shares of HP from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Barclays increased their price target on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP currently has an average rating of “Moderate Buy” and an average price target of $33.11.

Insider Activity

In other HP news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 over the last three months. 0.41% of the stock is owned by insiders.

HP Profile

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.