Corebridge Financial Inc. Cuts Stock Holdings in Ford Motor (NYSE:F)

Corebridge Financial Inc. trimmed its stake in Ford Motor (NYSE:F) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 897,132 shares of the auto manufacturer’s stock after selling 43,214 shares during the period. Corebridge Financial Inc.’s holdings in Ford Motor were worth $8,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Ford Motor during the 3rd quarter worth $96,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ford Motor during the third quarter worth about $186,000. Cerity Partners LLC boosted its holdings in shares of Ford Motor by 10.8% in the 3rd quarter. Cerity Partners LLC now owns 324,052 shares of the auto manufacturer’s stock worth $3,422,000 after purchasing an additional 31,707 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Ford Motor during the 3rd quarter valued at about $37,000. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in shares of Ford Motor by 247.0% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 98,345 shares of the auto manufacturer’s stock valued at $1,039,000 after buying an additional 70,000 shares in the last quarter. 58.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BNP Paribas raised Ford Motor to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reduced their target price on shares of Ford Motor from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Evercore ISI lowered their price target on shares of Ford Motor from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Ford Motor from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, TD Cowen initiated coverage on shares of Ford Motor in a report on Friday, March 7th. They set a “hold” rating and a $10.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.37.

Ford Motor Stock Performance

Shares of F opened at $9.92 on Friday. The company has a 50-day simple moving average of $9.76 and a two-hundred day simple moving average of $10.28. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $39.30 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.61 and a beta of 1.59. Ford Motor has a one year low of $9.06 and a one year high of $14.85.

Ford Motor (NYSE:F) last released its earnings results on Wednesday, February 5th. The auto manufacturer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Ford Motor had a return on equity of 16.88% and a net margin of 3.18%. On average, analysts anticipate that Ford Motor will post 1.47 EPS for the current fiscal year.

Ford Motor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Tuesday, February 18th. Ford Motor’s dividend payout ratio is presently 41.10%.

Ford Motor Company Profile

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.