Corebridge Financial Inc. Has $12.69 Million Position in eBay Inc. (NASDAQ:EBAY)

Corebridge Financial Inc. decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 204,853 shares of the e-commerce company’s stock after selling 2,779 shares during the period. Corebridge Financial Inc.’s holdings in eBay were worth $12,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of eBay in the third quarter valued at about $105,506,000. Raymond James Financial Inc. bought a new position in eBay in the 4th quarter valued at about $96,214,000. Boston Partners lifted its position in eBay by 35.2% during the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock worth $362,823,000 after acquiring an additional 1,524,691 shares during the last quarter. Amundi boosted its holdings in shares of eBay by 16.8% during the fourth quarter. Amundi now owns 4,719,128 shares of the e-commerce company’s stock worth $292,350,000 after acquiring an additional 677,389 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of eBay by 23.2% in the fourth quarter. Allianz Asset Management GmbH now owns 2,460,879 shares of the e-commerce company’s stock valued at $152,451,000 after purchasing an additional 463,015 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

eBay Trading Down 0.4 %

NASDAQ EBAY opened at $66.30 on Wednesday. The company has a market cap of $30.90 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $67.04 and its 200 day moving average is $64.82.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.29 per share. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, March 14th. eBay’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EBAY. Citigroup boosted their price target on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of eBay in a research report on Thursday, February 27th. UBS Group increased their target price on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of eBay from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.54.

Insider Activity

In other eBay news, SVP Cornelius Boone sold 3,958 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at approximately $6,329,927.52. This represents a 4.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total transaction of $350,887.50. Following the transaction, the chief executive officer now owns 542,248 shares in the company, valued at approximately $33,825,430.24. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,241 shares of company stock valued at $1,061,665 over the last quarter. 0.38% of the stock is owned by company insiders.

eBay Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.