Principal Financial Group Inc. Has $6.57 Million Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Principal Financial Group Inc. trimmed its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 342,337 shares of the financial services provider’s stock after selling 15,762 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Alexander & Baldwin worth $6,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its stake in Alexander & Baldwin by 14.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 194,942 shares of the financial services provider’s stock worth $3,743,000 after acquiring an additional 24,773 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Alexander & Baldwin by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,510 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 1,374 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after purchasing an additional 111,392 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Alexander & Baldwin by 9.6% during the third quarter. Pinnacle Associates Ltd. now owns 389,006 shares of the financial services provider’s stock valued at $7,399,000 after purchasing an additional 34,007 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 727 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Up 1.3 %

NYSE:ALEX opened at $19.47 on Wednesday. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The stock’s 50 day moving average price is $19.09 and its 200 day moving average price is $18.21. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.41 billion, a PE ratio of 31.40 and a beta of 1.26.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.