Corebridge Financial Inc. Reduces Holdings in Vistra Corp. $VST

Key Points

• Corebridge Financial Inc. reduced its stake in Vistra Corp. by 3.8%, now holding 86,690 shares valued at $10.18 million.
• Insider activity included significant stock sales, with Director John R. Sult selling 25,000 shares and Scott B. Helm selling 50,000 shares at prices averaging $171.67 and $172.75, respectively.
• Vistra recently announced a quarterly dividend increase, boosting it from $0.23 to $0.226 per share, reflecting a 0.5% annual yield.

Corebridge Financial Inc. cut its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,690 shares of the company's stock after selling 3,427 shares during the quarter. Corebridge Financial Inc.'s holdings in Vistra were worth $10,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. HM Payson & Co. boosted its holdings in Vistra by 275.4% during the 1st quarter. HM Payson & Co. now owns 229 shares of the company's stock valued at $27,000 after acquiring an additional 168 shares during the period. Ameriflex Group Inc. bought a new position in Vistra during the 4th quarter valued at approximately $32,000. Keener Financial Planning LLC bought a new position in Vistra during the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT bought a new position in Vistra during the 1st quarter valued at approximately $39,000. Finally, Opal Wealth Advisors LLC bought a new position in Vistra during the 1st quarter valued at approximately $46,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John R. Sult sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $171.67, for a total transaction of $4,291,750.00. Following the completion of the transaction, the director owned 75,946 shares of the company's stock, valued at $13,037,649.82. This trade represents a 24.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott B. Helm sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $172.75, for a total value of $8,637,500.00. Following the transaction, the director directly owned 255,192 shares of the company's stock, valued at approximately $44,084,418. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is owned by company insiders.

Vistra Stock Down 0.3%

Shares of NYSE:VST opened at $194.55 on Thursday. Vistra Corp. has a 52-week low of $72.90 and a 52-week high of $216.85. The firm has a market capitalization of $65.92 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.25 and a beta of 1.30. The stock has a 50 day moving average price of $195.11 and a 200-day moving average price of $158.84. The company has a debt-to-equity ratio of 6.58, a quick ratio of 0.80 and a current ratio of 0.90.

Vistra (NYSE:VST - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.62). Vistra had a return on equity of 108.41% and a net margin of 12.90%.The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $5.15 billion. As a group, equities research analysts anticipate that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be given a dividend of $0.226 per share. This is a boost from Vistra's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.90 dividend on an annualized basis and a yield of 0.5%. Vistra's dividend payout ratio is 14.35%.

Analyst Ratings Changes

A number of research analysts have commented on VST shares. Raymond James Financial started coverage on Vistra in a research report on Friday, June 13th. They set a "strong-buy" rating and a $216.00 price target for the company. Melius started coverage on Vistra in a research report on Wednesday, August 20th. They set a "buy" rating and a $295.00 price target for the company. Jefferies Financial Group upped their price target on Vistra from $145.00 to $241.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Evercore ISI set a $192.00 price target on Vistra and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, BMO Capital Markets upped their price target on Vistra from $191.00 to $229.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.43.

About Vistra

Vistra Corp., together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia.

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