Naviter Wealth LLC Sells 15,052 Shares of BHP Group Limited (NYSE:BHP)

Naviter Wealth LLC cut its position in BHP Group Limited (NYSE:BHP) by 22.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 51,026 shares of the mining company’s stock after selling 15,052 shares during the quarter. Naviter Wealth LLC’s holdings in BHP Group were worth $2,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in BHP Group in the fourth quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in BHP Group in the fourth quarter valued at about $40,000. Union Bancaire Privee UBP SA acquired a new position in BHP Group in the fourth quarter valued at about $46,000. Newbridge Financial Services Group Inc. acquired a new position in BHP Group in the fourth quarter valued at about $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BHP Group by 42.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,169 shares of the mining company’s stock valued at $73,000 after buying an additional 351 shares in the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BHP has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.00.

BHP Group Price Performance

Shares of BHP stock opened at $50.17 on Friday. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21. The firm’s 50 day moving average is $49.86 and its 200-day moving average is $52.92. The firm has a market capitalization of $127.23 billion, a price-to-earnings ratio of 11.40 and a beta of 0.95. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40.

BHP Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 4.8%. BHP Group’s payout ratio is 44.77%.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.