Swiss National Bank decreased its stake in SCANA Co. (NYSE:SCG) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,346 shares of the utilities provider’s stock after selling 96,866 shares during the period. Swiss National Bank’s holdings in SCANA were worth $19,904,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SCG. Jennison Associates LLC acquired a new position in shares of SCANA in the 4th quarter valued at $69,408,000. Thompson Siegel & Walmsley LLC raised its position in SCANA by 139.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,682,139 shares of the utilities provider’s stock valued at $130,057,000 after purchasing an additional 1,560,863 shares during the last quarter. Alps Advisors Inc. purchased a new stake in SCANA in the 4th quarter valued at $41,830,000. Bank of New York Mellon Corp raised its position in SCANA by 67.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,170,207 shares of the utilities provider’s stock valued at $105,234,000 after purchasing an additional 875,095 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in SCANA by 183.7% in the 3rd quarter. Prudential Financial Inc. now owns 1,044,106 shares of the utilities provider’s stock valued at $50,629,000 after purchasing an additional 676,055 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.
SCG has been the subject of several research reports. Edward Jones upgraded shares of SCANA from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Wells Fargo & Co downgraded shares of SCANA from an “outperform” rating to a “market perform” rating and set a $51.00 price target for the company. in a research report on Friday, January 5th. ValuEngine upgraded shares of SCANA from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Bank of America initiated coverage on shares of SCANA in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price target for the company. Finally, UBS Group initiated coverage on shares of SCANA in a research report on Friday, February 2nd. They issued a “sell” rating and a $38.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $52.06.
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SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. The Company operates through segments, including Electric Operations, Gas Distribution, Gas Marketing and All Other. The Company is engaged in the purchase, transmission and sale of natural gas in North Carolina and South Carolina.
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