Corebridge Financial Inc. Has $6.24 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Corebridge Financial Inc. reduced its holdings in Corpay, Inc. (NYSE:CPAY) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,427 shares of the company’s stock after selling 57 shares during the period. Corebridge Financial Inc.’s holdings in Corpay were worth $6,236,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CPAY. Avion Wealth boosted its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Spire Wealth Management acquired a new stake in Corpay in the 4th quarter valued at $42,000. Assetmark Inc. increased its position in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CPAY shares. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company increased their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Raymond James lowered their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Down 2.4 %

Shares of NYSE CPAY opened at $346.79 on Friday. The business has a 50-day simple moving average of $363.75 and a two-hundred day simple moving average of $351.85. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a market cap of $24.36 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.