Skandinaviska Enskilda Banken AB publ Acquires 16,400 Shares of American States Water Company (NYSE:AWR)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in American States Water Company by 76.4%, acquiring an additional 16,400 shares to hold a total of 37,880 shares valued at approximately $2.98 million.
• Wells Fargo & Company upgraded American States Water's rating from "underweight" to "equal weight" and raised its price target for the stock from $76.00 to $84.00.
• American States Water recently declared a quarterly dividend of $0.4655, which represents an annualized dividend yield of 2.54%.

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of American States Water Company (NYSE:AWR - Free Report) by 76.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,880 shares of the utilities provider's stock after acquiring an additional 16,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.10% of American States Water worth $2,980,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in American States Water during the 4th quarter worth $45,254,000. Bessemer Group Inc. grew its position in American States Water by 62,545.4% during the 1st quarter. Bessemer Group Inc. now owns 149,096 shares of the utilities provider's stock worth $11,731,000 after acquiring an additional 148,858 shares during the last quarter. JPMorgan Chase & Co. grew its position in American States Water by 31.0% during the 4th quarter. JPMorgan Chase & Co. now owns 350,616 shares of the utilities provider's stock worth $27,250,000 after acquiring an additional 82,951 shares during the last quarter. Northern Trust Corp grew its position in American States Water by 14.5% during the 4th quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider's stock worth $46,924,000 after acquiring an additional 76,300 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in American States Water by 107.7% during the 4th quarter. Bank of America Corp DE now owns 137,915 shares of the utilities provider's stock worth $10,719,000 after buying an additional 71,501 shares during the period. Institutional investors own 75.24% of the company's stock.

American States Water Stock Up 0.4%

AWR traded up $0.30 during midday trading on Wednesday, reaching $73.56. 283,401 shares of the company were exchanged, compared to its average volume of 224,852. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. The company's fifty day moving average price is $76.98 and its 200 day moving average price is $76.85. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. American States Water Company has a one year low of $70.29 and a one year high of $87.50.

American States Water (NYSE:AWR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. American States Water had a return on equity of 13.45% and a net margin of 20.22%. The firm had revenue of $148.01 million for the quarter, compared to the consensus estimate of $142.00 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that American States Water Company will post 3.34 EPS for the current year.

American States Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $0.4655 per share. The ex-dividend date was Monday, May 19th. This represents a $1.86 annualized dividend and a yield of 2.53%. American States Water's payout ratio is 57.23%.

Insiders Place Their Bets

In other American States Water news, Director Thomas A. Eichelberger bought 897 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the completion of the acquisition, the director owned 8,467 shares of the company's stock, valued at approximately $650,350.27. This trade represents a 11.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $76.00 to $84.00 in a research note on Thursday, May 8th.

About American States Water

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.