American States Water (NYSE:AWR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in shares of American States Water (NYSE:AWR) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,868 shares of the utilities provider’s stock after selling 1,538 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of American States Water worth $1,544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American States Water by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,831,526 shares of the utilities provider’s stock valued at $375,506,000 after acquiring an additional 33,371 shares in the last quarter. LPL Financial LLC grew its stake in American States Water by 11.3% during the 4th quarter. LPL Financial LLC now owns 28,469 shares of the utilities provider’s stock valued at $2,213,000 after purchasing an additional 2,887 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in American States Water during the 4th quarter worth approximately $637,000. Sei Investments Co. acquired a new position in shares of American States Water in the 4th quarter valued at approximately $495,000. Finally, Quantbot Technologies LP boosted its stake in shares of American States Water by 84.3% during the 4th quarter. Quantbot Technologies LP now owns 9,589 shares of the utilities provider’s stock valued at $745,000 after buying an additional 4,385 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AWR shares. StockNews.com upgraded shares of American States Water from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Bank of America downgraded shares of American States Water from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $85.00 to $71.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut shares of American States Water from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $84.00 to $77.00 in a research report on Tuesday, January 7th.

American States Water Stock Performance

Shares of AWR opened at $77.84 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.76. American States Water has a 12-month low of $66.03 and a 12-month high of $87.50. The business’s fifty day moving average price is $75.85 and its 200 day moving average price is $79.63. The stock has a market capitalization of $2.92 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 12.92 and a beta of 0.47.

American States Water (NYSE:AWR) last posted its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. American States Water had a net margin of 20.03% and a return on equity of 13.63%. The business had revenue of $143.10 million during the quarter, compared to analyst estimates of $160.17 million. Equities research analysts forecast that American States Water will post 3.34 EPS for the current year.

American States Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Tuesday, February 18th. American States Water’s dividend payout ratio (DPR) is presently 58.68%.

Insider Transactions at American States Water

In related news, Director Diana M. Bonta sold 969 shares of American States Water stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $77.00, for a total value of $74,613.00. Following the sale, the director now directly owns 15,931 shares in the company, valued at $1,226,687. This trade represents a 5.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

American States Water Company Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.