Assenagon Asset Management S.A. Has $6.21 Million Stock Position in Evergy Inc. $EVRG

Key Points

• Assenagon Asset Management cut its Evergy stake by 37.9% in the first quarter, selling 46,198 shares and ending with 75,803 shares worth about $6.21 million.
• Insiders have also sold shares recently, including Director Sandra Aj Lawrence and EVP Charles A. Caisley, with total insider sales over the last 90 days amounting to 12,748 shares worth roughly $1.06 million.
• Evergy reported better-than-expected Q1 earnings of $0.69 per share on revenue of $1.44 billion, and it continues to pay a quarterly dividend of $0.695 per share, implying a 3.2% yield.

Assenagon Asset Management S.A. reduced its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 37.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,803 shares of the company's stock after selling 46,198 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Evergy were worth $6,210,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new position in Evergy during the fourth quarter worth $257,000. United Services Automobile Association bought a new stake in Evergy in the first quarter valued at $223,000. Empowered Funds LLC increased its stake in Evergy by 19.5% in the first quarter. Empowered Funds LLC now owns 4,648 shares of the company's stock valued at $320,000 after purchasing an additional 758 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Evergy by 40.7% during the first quarter. Woodline Partners LP now owns 19,429 shares of the company's stock valued at $1,340,000 after purchasing an additional 5,618 shares during the period. Finally, Focus Partners Wealth raised its holdings in shares of Evergy by 7.3% during the first quarter. Focus Partners Wealth now owns 13,791 shares of the company's stock valued at $951,000 after purchasing an additional 939 shares during the period. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Evergy

In other Evergy news, Director Sandra Aj Lawrence sold 761 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total transaction of $63,398.91. Following the transaction, the director directly owned 1,680 shares in the company, valued at approximately $139,960.80. This trade represents a 31.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the transaction, the executive vice president directly owned 37,789 shares in the company, valued at $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 12,748 shares of company stock worth $1,061,870. Company insiders own 1.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America reduced their target price on Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company set a $87.00 price target on Evergy in a research note on Tuesday, April 21st. UBS Group increased their price target on Evergy from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Weiss Ratings raised Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Finally, BTIG Research assumed coverage on Evergy in a report on Thursday, April 9th. They set a "buy" rating and a $99.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.60.

Evergy Stock Up 0.0%

Shares of NASDAQ EVRG opened at $87.23 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The company has a 50-day moving average price of $82.67 and a 200-day moving average price of $79.86. The stock has a market capitalization of $20.11 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.26 and a beta of 0.55. Evergy Inc. has a 1 year low of $67.30 and a 1 year high of $87.57.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. On average, equities research analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were given a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, May 22nd. Evergy's dividend payout ratio is presently 73.74%.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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