Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. ConAgra Foods Upgraded by JP Morgan
Processed and packaged goods company ConAgra Foods (CAG ) saw its stock upgraded pre-market on Monday with JP Morgan confirming an Overweight rating and a new price target of $52.00. Finishing Friday’s session at $43.37 (up 10.9%), ConAgra’s adjusted dividend yield is 2.31% with an annual payout of $1.00 (paid quarterly). The stock is 0.57% from its 52-week high.
2. Progressive Corp. Upgraded by Raymond James
Property and casualty insurance provider Progressive Corp. (PGR ) was upgraded on Monday with Raymond James raising their target price to $31.00 and their rating to Outperform. Zacks and Barclays also recently upgraded their price targets for the stock. Finishing Friday’s session at $28.08 (down 1.0%), PGR’s adjusted dividend yield is 2.44% with an annual payout of $0.69 (paid quarterly). The stock is 1.23% from its 52-week high.
3. Blackstone Mortgage Trust Upgraded by Bank of America/Merrill Lynch
Property manager Blackstone Mortgage Trust (BXMT ) saw its stock upgraded on Monday with Bank of America/Merrill Lynch adding the stock to their Buy list. The new price target is $32.00. Recently the company announced the closure of a public offering, which saw 11,500,000 shares sold. Total proceeds from the corporate action amounted to an estimated $370 million. Finishing Friday’s session at $29.29 (down 0.6%), Blackstone’s adjusted dividend yield is 7.10% with an annual payout of $2.08 (paid quarterly). The stock is 7.89% from its 52-week high.
4. Hannon Armstrong Downgraded by Bank of America/Merrill Lynch
Diversified REIT Hannon Armstrong Sustainable Infrastructure Capital (HASI ) saw its stock downgraded pre-market on Monday with Bank of America/Merrill Lynch changing its target price to $21.00. This equates to a Neutral rating. Finishing Friday’s session at $21.31 (up 3.1%), Hannon Armstrong’s adjusted dividend yield is 4.88% with an annual payout of $1.04 (paid quarterly). The stock is 0.05% from its 52-week high.
5. Axis Capital Downgraded by MKM Partners
Property and casualty insurance provider Axis Capital Holdings (AXS ) saw its stock downgraded pre-market Monday with MKM Partners adding the stock to their Neutral list. Their target price remains unchanged. Axis has recently come on to Arch Capital’s radar, with speculation that the Bermuda-based company may make a play at $65 a share. This was reported in the Financial Times last Wednesday. Finishing Friday’s session at $55.71 (down 1.3%), Axis’s adjusted dividend yield is 2.08% with an annual payout of $1.16 (paid quarterly). The stock is 6.18% from its 52-week high.
6. Symantec Downgraded by UBS
Security software company Symantec (SYMC ) saw its stock downgraded to Sell by UBS on Monday. Finishing Friday’s session at $24.07 (down 1.6%), Symantec’s adjusted dividend yield is 2.49% with an annual payout of $0.60 (paid quarterly). The stock is 11.90% from its 52-week high.
