Principal Financial Group Inc. Has $13.38 Million Stake in American States Water (NYSE:AWR)

Principal Financial Group Inc. reduced its stake in shares of American States Water (NYSE:AWR) by 4.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 184,425 shares of the utilities provider’s stock after selling 8,321 shares during the period. Principal Financial Group Inc.’s holdings in American States Water were worth $13,384,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Wealth Solutions Inc. bought a new stake in American States Water during the fourth quarter worth $224,000. Victory Capital Management Inc. grew its position in American States Water by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 13,652 shares of the utilities provider’s stock worth $1,098,000 after purchasing an additional 894 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of American States Water during the fourth quarter valued at approximately $818,000. Private Advisor Group LLC increased its stake in shares of American States Water by 1.1% during the 4th quarter. Private Advisor Group LLC now owns 25,556 shares of the utilities provider’s stock worth $2,055,000 after purchasing an additional 285 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of American States Water by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 368,410 shares of the utilities provider’s stock worth $29,628,000 after purchasing an additional 11,867 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American States Water

In related news, Director Anne M. Holloway sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $80.89, for a total transaction of $40,445.00. Following the sale, the director now owns 38,519 shares of the company’s stock, valued at approximately $3,115,801.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

American States Water Stock Performance

NYSE AWR opened at $81.33 on Friday. The company’s 50 day moving average is $79.55 and its 200-day moving average is $74.74. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.92. American States Water has a 12-month low of $66.03 and a 12-month high of $85.71. The firm has a market cap of $3.05 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49.

American States Water (NYSE:AWR) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.02). The company had revenue of $155.30 million during the quarter, compared to analysts’ expectations of $138.00 million. American States Water had a net margin of 18.85% and a return on equity of 13.45%. American States Water’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Sell-side analysts predict that American States Water will post 3.03 earnings per share for the current year.

American States Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $0.4655 per share. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from American States Water’s previous quarterly dividend of $0.43. This represents a $1.86 annualized dividend and a dividend yield of 2.29%. American States Water’s dividend payout ratio is currently 60.78%.

Wall Street Analyst Weigh In

AWR has been the subject of several research reports. StockNews.com lowered American States Water from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Wells Fargo & Company raised American States Water from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $80.00 to $87.00 in a report on Wednesday, July 31st.

American States Water Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.