American International Group Inc. decreased its holdings in shares of American Water Works (NYSE:AWK) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,906 shares of the utilities provider’s stock after selling 6,743 shares during the quarter. American International Group Inc.’s holdings in American Water Works were worth $5,494,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. purchased a new stake in American Water Works during the second quarter valued at $118,000. Peddock Capital Advisors LLC purchased a new stake in shares of American Water Works in the second quarter valued at $131,000. Aviance Capital Management LLC purchased a new stake in shares of American Water Works in the second quarter valued at $147,000. Almanack Investment Partners LLC. purchased a new stake in shares of American Water Works in the second quarter valued at $154,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of American Water Works by 8.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 197 shares during the period. 80.96% of the stock is currently owned by institutional investors.
Shares of American Water Works (NYSE:AWK) opened at $91.32 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 1.21. The firm has a market cap of $16,290.00, a price-to-earnings ratio of 31.45, a PEG ratio of 4.00 and a beta of 0.27. American Water Works has a 12 month low of $69.96 and a 12 month high of $91.97.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.08. The firm had revenue of $936.00 million for the quarter, compared to analysts’ expectations of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. sell-side analysts expect that American Water Works will post 3.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Thursday, November 9th. American Water Works’s payout ratio is presently 56.27%.
Several brokerages have recently weighed in on AWK. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Robert W. Baird reissued a “hold” rating and issued a $82.00 target price on shares of American Water Works in a research note on Sunday, October 1st. Bank of America began coverage on shares of American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Janney Montgomery Scott downgraded shares of American Water Works from a “buy” rating to a “neutral” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.63.
In other news, insider Deborah A. Degillio sold 822 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $89.75, for a total value of $73,774.50. Following the transaction, the insider now directly owns 3,659 shares in the company, valued at $328,395.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael A. Sgro sold 841 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $90.03, for a total transaction of $75,715.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,856 shares of company stock worth $616,700. Company insiders own 0.34% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/12/05/american-international-group-inc-sells-6743-shares-of-american-water-works-awk.html.
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.
Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.