American Century Companies Inc. Decreases Stock Holdings in Genie Energy Ltd. (NYSE:GNE)

American Century Companies Inc. reduced its position in shares of Genie Energy Ltd. (NYSE:GNE) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,313 shares of the oil and gas producer’s stock after selling 12,728 shares during the period. American Century Companies Inc. owned about 0.09% of Genie Energy worth $355,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Genie Energy by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after purchasing an additional 1,002 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Genie Energy by 5.8% during the first quarter. BNP Paribas Financial Markets now owns 23,114 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 1,267 shares during the period. Principal Financial Group Inc. increased its stake in shares of Genie Energy by 10.0% during the second quarter. Principal Financial Group Inc. now owns 32,355 shares of the oil and gas producer’s stock worth $473,000 after acquiring an additional 2,941 shares during the period. SG Americas Securities LLC increased its stake in shares of Genie Energy by 41.9% during the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after acquiring an additional 3,144 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Genie Energy by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 65,054 shares of the oil and gas producer’s stock worth $981,000 after acquiring an additional 6,001 shares during the period. 49.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genie Energy

In related news, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the transaction, the chief financial officer now owns 134,999 shares of the company’s stock, valued at $2,320,632.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the transaction, the chief financial officer now owns 134,999 shares of the company’s stock, valued at $2,320,632.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total transaction of $63,173.25. Following the transaction, the director now directly owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Genie Energy Price Performance

Shares of NYSE GNE opened at $16.03 on Friday. Genie Energy Ltd. has a 12-month low of $14.00 and a 12-month high of $30.90. The company has a market capitalization of $434.91 million, a PE ratio of 32.42 and a beta of 0.09. The firm’s 50-day moving average is $16.45 and its two-hundred day moving average is $15.76.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 1.75% and a return on equity of 23.30%. The company had revenue of $90.70 million for the quarter.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s payout ratio is 60.00%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.