Cigna Investments Inc. New Cuts Position in American Water Works (AWK)
Cigna Investments Inc. New cut its position in shares of American Water Works (NYSE:AWK) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,950 shares of the utilities provider’s stock after selling 508 shares during the period. Cigna Investments Inc. New’s holdings in American Water Works were worth $542,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of American Water Works by 1,423.2% in the first quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock worth $1,129,202,000 after buying an additional 13,566,529 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of American Water Works by 3.9% in the first quarter. Vanguard Group Inc. now owns 17,720,019 shares of the utilities provider’s stock worth $1,378,085,000 after buying an additional 657,026 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in shares of American Water Works by 7,096.4% in the second quarter. Harbour Capital Advisors LLC now owns 655,949 shares of the utilities provider’s stock worth $8,415,000 after buying an additional 646,834 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of American Water Works during the first quarter worth approximately $41,992,000. Finally, JPMorgan Chase & Co. boosted its position in shares of American Water Works by 93.7% in the first quarter. JPMorgan Chase & Co. now owns 861,315 shares of the utilities provider’s stock worth $66,985,000 after buying an additional 416,651 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.
American Water Works (NYSE:AWK) opened at 81.33 on Tuesday. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 30.70 and a beta of 0.25. American Water Works has a 12 month low of $69.41 and a 12 month high of $82.89. The company’s 50-day moving average price is $79.99 and its 200 day moving average price is $77.82.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.07. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The company had revenue of $844 million during the quarter, compared to analysts’ expectations of $869.52 million. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that American Water Works will post $3.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be paid a $0.415 dividend. This represents a $1.66 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, August 7th. American Water Works’s dividend payout ratio is presently 62.64%.
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AWK has been the subject of a number of research reports. Robert W. Baird cut American Water Works from an “outperform” rating to a “neutral” rating and increased their price target for the company from $69.41 to $82.00 in a research note on Wednesday, April 26th. Vetr upgraded American Water Works from a “hold” rating to a “buy” rating and set a $82.36 price target for the company in a research note on Monday, May 1st. Zacks Investment Research cut American Water Works from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Northcoast Research initiated coverage on American Water Works in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.63.
In other American Water Works news, SVP Loyd A. Warnock sold 1,263 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $75.21, for a total value of $94,990.23. Following the completion of the sale, the senior vice president now directly owns 7,055 shares of the company’s stock, valued at $530,606.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Loyd A. Warnock sold 2,236 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $75.73, for a total transaction of $169,332.28. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
American Water Works Company Profile
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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