Assenagon Asset Management S.A. Invests $2.15 Million in American States Water Company (NYSE:AWR)

Assenagon Asset Management S.A. purchased a new stake in shares of American States Water Company (NYSE:AWR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 27,354 shares of the utilities provider's stock, valued at approximately $2,152,000. Assenagon Asset Management S.A. owned about 0.07% of American States Water as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its position in shares of American States Water by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the utilities provider's stock valued at $1,422,000 after acquiring an additional 200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of American States Water by 332.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 101,222 shares of the utilities provider's stock worth $7,753,000 after buying an additional 77,792 shares during the period. Van ECK Associates Corp boosted its position in shares of American States Water by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 11,077 shares of the utilities provider's stock worth $861,000 after buying an additional 831 shares during the period. Blue Trust Inc. boosted its holdings in American States Water by 367.3% in the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 393 shares during the period. Finally, Allworth Financial LP boosted its holdings in American States Water by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,262 shares of the utilities provider's stock valued at $91,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

Insider Activity

In related news, Director Thomas A. Eichelberger acquired 897 shares of the business's stock in a transaction dated Friday, June 6th. The stock was acquired at an average price of $76.81 per share, with a total value of $68,898.57. Following the completion of the transaction, the director now owns 8,467 shares of the company's stock, valued at approximately $650,350.27. This represents a 11.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

American States Water Stock Performance

AWR stock traded up $0.36 during midday trading on Thursday, reaching $77.87. The company had a trading volume of 167,255 shares, compared to its average volume of 216,535. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $78.83 and a 200 day moving average price of $77.41. American States Water Company has a fifty-two week low of $70.03 and a fifty-two week high of $87.50. The firm has a market capitalization of $3.00 billion, a PE ratio of 23.96, a P/E/G ratio of 4.21 and a beta of 0.62.

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

American States Water Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th 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 Monday, May 19th. American States Water's dividend payout ratio is currently 57.23%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen upgraded American States Water from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $76.00 to $84.00 in a report on Thursday, May 8th.

American States Water 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.