Citigroup Inc. Buys 4,603 Shares of American States Water (NYSE:AWR)

Posted by AM Reporter Staff on May 26th, 2023

Citigroup Inc. boosted its stake in American States Water (NYSE:AWR – Get Rating) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,126 shares of the utilities provider’s stock after acquiring an additional 4,603 shares during the period. Citigroup Inc. owned 0.06% of American States Water worth $2,048,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its holdings in American States Water by 34.6% in the fourth quarter. HighTower Advisors LLC now owns 16,328 shares of the utilities provider’s stock valued at $1,515,000 after acquiring an additional 4,199 shares during the last quarter. Raymond James & Associates lifted its stake in American States Water by 1.9% in the fourth quarter. Raymond James & Associates now owns 43,464 shares of the utilities provider’s stock valued at $4,023,000 after buying an additional 790 shares during the period. FORA Capital LLC acquired a new position in American States Water in the fourth quarter valued at approximately $280,000. Northstar Asset Management Inc. acquired a new position in American States Water in the fourth quarter valued at approximately $4,267,000. Finally, UBS Group AG lifted its stake in American States Water by 14.1% in the fourth quarter. UBS Group AG now owns 74,123 shares of the utilities provider’s stock valued at $6,860,000 after buying an additional 9,153 shares during the period. 74.09% of the stock is currently owned by institutional investors.

American States Water Price Performance

Shares of NYSE:AWR opened at $87.73 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 0.82. American States Water has a twelve month low of $71.22 and a twelve month high of $100.50. The stock’s 50 day moving average is $89.56 and its 200-day moving average is $92.30. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 32.98 and a beta of 0.41.

American States Water (NYSE:AWR – Get Rating) last issued its earnings results on Wednesday, March 1st. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.34). American States Water had a return on equity of 12.74% and a net margin of 18.12%. The firm had revenue of $125.37 million for the quarter. Sell-side analysts forecast that American States Water will post 2.97 EPS for the current fiscal year.

American States Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be paid a dividend of $0.3975 per share. This represents a $1.59 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, May 18th. American States Water’s dividend payout ratio (DPR) is presently 59.77%.

Insider Buying and Selling at American States Water

In related news, Director Thomas A. Eichelberger acquired 2,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $89.99 per share, for a total transaction of $179,980.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $179,980. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AWR. Wells Fargo & Company raised American States Water from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $90.00 to $94.00 in a research note on Friday, May 12th. StockNews.com initiated coverage on American States Water in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $88.67.