AIA Group Ltd Sells 3,275 Shares of CSX Co. (NASDAQ:CSX)

AIA Group Ltd reduced its position in shares of CSX Co. (NASDAQ:CSX) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,298 shares of the transportation company’s stock after selling 3,275 shares during the period. AIA Group Ltd’s holdings in CSX were worth $236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co lifted its holdings in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new position in CSX during the fourth quarter worth $1,084,000. Carnegie Investment Counsel increased its position in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC grew its position in CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Susquehanna cut their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. BMO Capital Markets reduced their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.75.

CSX Trading Up 0.4 %

Shares of NASDAQ CSX opened at $29.54 on Wednesday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.10. The firm has a market capitalization of $55.68 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company’s 50 day simple moving average is $31.61 and its 200 day simple moving average is $33.14.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. CSX’s dividend payout ratio is 29.05%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.