Principal Financial Group Inc. Has $19.66 Million Stock Position in Avista Corporation $AVA

Principal Financial Group Inc. increased its position in shares of Avista Corporation (NYSE:AVA) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 519,946 shares of the utilities provider’s stock after acquiring an additional 38,651 shares during the quarter. Principal Financial Group Inc.’s holdings in Avista were worth $19,659,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVA. Norges Bank purchased a new position in Avista during the 2nd quarter worth approximately $29,674,000. Westwood Holdings Group Inc. boosted its position in shares of Avista by 52.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock worth $80,101,000 after buying an additional 728,543 shares during the period. State Street Corp grew its holdings in shares of Avista by 8.3% during the second quarter. State Street Corp now owns 5,191,896 shares of the utilities provider’s stock valued at $197,032,000 after buying an additional 398,446 shares in the last quarter. Nuance Investments LLC acquired a new position in Avista during the second quarter valued at $7,274,000. Finally, Cubist Systematic Strategies LLC raised its position in Avista by 25.9% during the second quarter. Cubist Systematic Strategies LLC now owns 590,535 shares of the utilities provider’s stock valued at $22,411,000 after buying an additional 121,345 shares during the period. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVA. KeyCorp restated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Mizuho set a $42.00 price target on shares of Avista in a report on Thursday, November 6th. Wells Fargo & Company dropped their price objective on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Jefferies Financial Group cut their target price on shares of Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Avista in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.33.

Insider Activity

In related news, SVP Wayne O. Manuel sold 1,785 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total value of $69,150.90. Following the completion of the sale, the senior vice president directly owned 9,883 shares in the company, valued at approximately $382,867.42. This represents a 15.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.94% of the company’s stock.

Avista Trading Down 2.1%

NYSE:AVA opened at $41.51 on Monday. The stock’s 50 day moving average price is $39.47 and its 200 day moving average price is $38.53. Avista Corporation has a 52 week low of $35.50 and a 52 week high of $43.09. The company has a market capitalization of $3.38 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.13 and a beta of 0.28. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.60 and a current ratio of 0.91.

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 24th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, November 24th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.7%. Avista’s dividend payout ratio (DPR) is currently 83.40%.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.