Principal Financial Group Inc. Cuts Holdings in Avista Corporation (AVA)

Principal Financial Group Inc. lowered its position in shares of Avista Corporation (NYSE:AVA) by 12.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 963,551 shares of the utilities provider’s stock after selling 133,849 shares during the quarter. Principal Financial Group Inc. owned about 1.50% of Avista Corporation worth $49,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. IndexIQ Advisors LLC acquired a new stake in Avista Corporation during the third quarter valued at approximately $3,252,000. Gabelli Funds LLC raised its stake in Avista Corporation by 0.5% during the third quarter. Gabelli Funds LLC now owns 453,400 shares of the utilities provider’s stock valued at $23,473,000 after buying an additional 2,400 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in Avista Corporation during the third quarter valued at approximately $14,734,000. ARP Americas LLC acquired a new stake in Avista Corporation during the third quarter valued at approximately $16,595,000. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Avista Corporation during the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Several equities analysts have recently commented on the company. BidaskClub raised Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered Avista Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. KeyCorp reaffirmed a “hold” rating on shares of Avista Corporation in a report on Friday, October 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Avista Corporation in a report on Friday, July 21st. Finally, Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and upped their target price for the company from $38.00 to $42.00 in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.75.

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Avista Corporation (NYSE:AVA) opened at $52.07 on Wednesday. The company has a market capitalization of $3,341.86, a P/E ratio of 25.18 and a beta of 0.44. Avista Corporation has a fifty-two week low of $37.78 and a fifty-two week high of $52.83. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 0.92.

In related news, VP James M. Kensok sold 4,700 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $52.01, for a total value of $244,447.00. Following the completion of the transaction, the vice president now directly owns 12,787 shares of the company’s stock, valued at approximately $665,051.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin J. Christie sold 500 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $51.81, for a total value of $25,905.00. Following the completion of the transaction, the vice president now directly owns 1,992 shares of the company’s stock, valued at $103,205.52. The disclosure for this sale can be found here. Insiders have bought 173,000 shares of company stock valued at $47,980 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Avista Corporation 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 Corporation (NYSE:AVA)

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