Corebridge Financial Inc. Grows Stock Position in Shift4 Payments, Inc. (NYSE:FOUR)

Corebridge Financial Inc. increased its position in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 6,556.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,349 shares of the company’s stock after purchasing an additional 77,172 shares during the quarter. Corebridge Financial Inc.’s holdings in Shift4 Payments were worth $8,131,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Shift4 Payments by 13.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 427,696 shares of the company’s stock worth $37,894,000 after buying an additional 50,664 shares in the last quarter. Captrust Financial Advisors boosted its position in Shift4 Payments by 63.5% during the third quarter. Captrust Financial Advisors now owns 14,615 shares of the company’s stock worth $1,295,000 after acquiring an additional 5,674 shares during the last quarter. Wasatch Advisors LP grew its stake in Shift4 Payments by 50.8% during the 3rd quarter. Wasatch Advisors LP now owns 5,883,186 shares of the company’s stock valued at $521,250,000 after acquiring an additional 1,980,940 shares in the last quarter. Centiva Capital LP raised its holdings in Shift4 Payments by 104.3% in the 3rd quarter. Centiva Capital LP now owns 8,504 shares of the company’s stock valued at $753,000 after acquiring an additional 4,342 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Shift4 Payments in the 3rd quarter worth approximately $448,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FOUR. Barclays dropped their price target on Shift4 Payments from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Morgan Stanley cut their target price on Shift4 Payments from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Stephens reissued an “overweight” rating and set a $125.00 price target on shares of Shift4 Payments in a research report on Wednesday, February 19th. Bank of America cut shares of Shift4 Payments from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $112.00 to $105.00 in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Shift4 Payments from $112.00 to $125.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.30.

Shift4 Payments Trading Up 0.5 %

FOUR opened at $86.59 on Friday. The firm has a market cap of $7.72 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.04 and a beta of 1.76. The company has a quick ratio of 2.97, a current ratio of 1.38 and a debt-to-equity ratio of 2.12. The business has a fifty day simple moving average of $103.93 and a 200-day simple moving average of $99.82. Shift4 Payments, Inc. has a 52 week low of $55.87 and a 52 week high of $127.50.

Shift4 Payments (NYSE:FOUR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Shift4 Payments had a return on equity of 29.00% and a net margin of 6.89%. The company had revenue of $405.00 million for the quarter, compared to analyst estimates of $1 billion. On average, equities analysts expect that Shift4 Payments, Inc. will post 3.7 earnings per share for the current year.

Insider Activity at Shift4 Payments

In other news, President David Taylor Lauber sold 2,500 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $91.70, for a total value of $229,250.00. Following the completion of the transaction, the president now owns 264,856 shares in the company, valued at approximately $24,287,295.20. This represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Nancy Disman sold 10,000 shares of Shift4 Payments stock in a transaction on Friday, March 14th. The stock was sold at an average price of $84.98, for a total transaction of $849,800.00. Following the sale, the chief financial officer now owns 177,622 shares in the company, valued at $15,094,317.56. This represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,695 shares of company stock valued at $1,097,380 over the last quarter. 30.57% of the stock is owned by insiders.

About Shift4 Payments

Shift4 Payments, Inc (NYSE FOUR) provides integrated payment processing and technology solutions in the United States. Its payments platform provides omni-channel card acceptance and processing solutions, including end-to-end payment processing for various payment types; merchant acquiring; proprietary omni-channel gateway; complementary software integrations; integrated and mobile point-of-sale (POS) solutions; security and risk management solutions; and reporting and analytical tools, as well as tokenization, risk management/underwriting, payment device and chargeback management, fraud prevention, and gift card solutions.