Allianz Asset Management GmbH Sells 279,122 Shares of NRG Energy, Inc. $NRG

Key Points

• Allianz Asset Management GmbH has reduced its stake in NRG Energy, Inc. by 84.4% during the second quarter, now holding 51,578 shares worth approximately $8,282,000 after selling 279,122 shares.
• Institutional investors currently own 97.72% of NRG Energy's stock, with recent purchases and modifications in holdings by several firms during the second quarter.
• NRG Energy announced a quarterly dividend of $0.44 per share, to be paid on November 17th, giving an annual yield of 1.1%.

Allianz Asset Management GmbH reduced its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 84.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,578 shares of the utilities provider's stock after selling 279,122 shares during the period. Allianz Asset Management GmbH's holdings in NRG Energy were worth $8,282,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Toth Financial Advisory Corp bought a new position in shares of NRG Energy in the 2nd quarter worth $27,000. Kiker Wealth Management LLC bought a new position in shares of NRG Energy in the 2nd quarter worth $37,000. ORG Partners LLC raised its position in NRG Energy by 422.2% in the 2nd quarter. ORG Partners LLC now owns 282 shares of the utilities provider's stock valued at $44,000 after buying an additional 228 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in NRG Energy in the 1st quarter valued at $28,000. Finally, Key Financial Inc purchased a new stake in NRG Energy in the 1st quarter valued at $30,000. 97.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NRG. Melius began coverage on NRG Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target for the company. Scotiabank began coverage on NRG Energy in a research report on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 price target for the company. Weiss Ratings reissued a "hold (c)" rating on shares of NRG Energy in a research report on Wednesday, October 8th. Zacks Research raised NRG Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 15th. Finally, BMO Capital Markets lifted their target price on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.92.

NRG Energy Price Performance

NRG opened at $163.54 on Wednesday. The firm has a market cap of $31.63 billion, a P/E ratio of 74.00 and a beta of 1.14. The firm has a 50-day moving average of $158.51 and a 200 day moving average of $146.89. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. During the same period last year, the business posted $3.37 EPS. The company's revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy's dividend payout ratio (DPR) is 79.64%.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.

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