Russell Investments Group Ltd. Trims Position in Avista Corp (AVA)

Russell Investments Group Ltd. cut its stake in shares of Avista Corp (NYSE:AVA) by 25.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,134 shares of the utilities provider’s stock after selling 8,769 shares during the period. Russell Investments Group Ltd.’s holdings in Avista were worth $1,353,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kassirer Asset Management Corp bought a new position in Avista during the 3rd quarter valued at $4,183,000. Boyer & Corporon Wealth Management LLC bought a new stake in shares of Avista during the 2nd quarter worth $2,239,000. Teacher Retirement System of Texas bought a new stake in shares of Avista during the 2nd quarter worth $218,000. Legal & General Group Plc raised its stake in shares of Avista by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 327,969 shares of the utilities provider’s stock worth $13,926,000 after purchasing an additional 18,828 shares during the period. Finally, Federated Investors Inc. PA raised its stake in shares of Avista by 31.5% during the 2nd quarter. Federated Investors Inc. PA now owns 145,642 shares of the utilities provider’s stock worth $6,184,000 after purchasing an additional 34,917 shares during the period. Institutional investors and hedge funds own 77.33% of the company’s stock.

In related news, Director R John Taylor sold 932 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $51.94, for a total value of $48,408.08. Following the sale, the director now directly owns 655 shares in the company, valued at approximately $34,020.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason R. Thackston sold 1,500 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $51.58, for a total value of $77,370.00. Following the completion of the sale, the insider now owns 22,974 shares in the company, valued at $1,184,998.92. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 116,000 shares of company stock worth $32,080 and have sold 7,632 shares worth $396,130. Insiders own 1.10% of the company’s stock.

A number of equities research analysts have recently commented on AVA shares. Zacks Investment Research cut Avista from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Avista in a research note on Friday, October 20th. Finally, ValuEngine cut Avista from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.75.

Shares of Avista Corp (NYSE AVA) opened at $51.47 on Wednesday. The company has a market capitalization of $3,320.00, a price-to-earnings ratio of 25.86 and a beta of 0.42. Avista Corp has a 52 week low of $37.78 and a 52 week high of $52.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.37 and a current ratio of 0.47.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Thursday, November 30th. Avista’s payout ratio is 71.86%.

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Avista Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Institutional Ownership by Quarter for Avista (NYSE:AVA)

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