CANADA LIFE ASSURANCE Co Acquires 139,134 Shares of Alibaba Group Holding Limited (NYSE:BABA)

CANADA LIFE ASSURANCE Co grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 462.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,220 shares of the specialty retailer’s stock after purchasing an additional 139,134 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Alibaba Group were worth $12,275,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fiduciary Alliance LLC increased its position in shares of Alibaba Group by 154.1% during the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after purchasing an additional 33,490 shares during the last quarter. Russell Investments Group Ltd. grew its position in Alibaba Group by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer’s stock worth $76,951,000 after acquiring an additional 21,228 shares during the last quarter. Cerity Partners LLC grew its position in Alibaba Group by 299.9% during the 4th quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock worth $6,428,000 after acquiring an additional 62,163 shares during the last quarter. ORG Partners LLC grew its position in Alibaba Group by 52,685.7% during the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in Alibaba Group during the 4th quarter worth approximately $1,449,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Alibaba Group stock traded down $0.15 during midday trading on Thursday, reaching $75.65. 5,444,015 shares of the stock traded hands, compared to its average volume of 16,995,188. The stock’s fifty day moving average is $77.59 and its 200-day moving average is $75.13. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50. The stock has a market cap of $191.96 billion, a P/E ratio of 17.66, a PEG ratio of 0.47 and a beta of 0.33. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The business had revenue of $30.73 billion for the quarter, compared to the consensus estimate of $30.59 billion. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Alibaba Group Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 13th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio (DPR) is presently 22.84%.

Analysts Set New Price Targets

Several research firms recently issued reports on BABA. Mizuho reduced their price target on Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Loop Capital increased their price objective on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Truist Financial reduced their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. JPMorgan Chase & Co. reduced their price target on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, Barclays reduced their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $108.79.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.