Victory Capital Management Inc. Has $1.75 Million Stake in ALLETE, Inc. (NYSE:ALE)

Victory Capital Management Inc. cut its position in ALLETE, Inc. (NYSE:ALE) by 81.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,946 shares of the utilities provider’s stock after selling 117,160 shares during the quarter. Victory Capital Management Inc.’s holdings in ALLETE were worth $1,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 172 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after buying an additional 217 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in ALLETE by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider’s stock valued at $764,000 after buying an additional 295 shares in the last quarter. D.A. Davidson & CO. boosted its stake in ALLETE by 1.9% in the third quarter. D.A. Davidson & CO. now owns 16,844 shares of the utilities provider’s stock valued at $1,081,000 after buying an additional 315 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in ALLETE by 31.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 76.55% of the company’s stock.

ALLETE Trading Down 0.4 %

NYSE ALE opened at $65.39 on Tuesday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.09 and a beta of 0.74. ALLETE, Inc. has a twelve month low of $56.66 and a twelve month high of $65.99. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $65.50 and its 200 day moving average is $64.77.

ALLETE (NYSE:ALE) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.47%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio (DPR) is presently 94.19%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of ALLETE in a report on Friday, January 10th. They issued a “hold” rating for the company.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.