Jennison Associates LLC Has $162.47 Million Stock Position in Vistra Corp. (NYSE:VST)

Jennison Associates LLC trimmed its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,383,432 shares of the company's stock after selling 470,868 shares during the quarter. Jennison Associates LLC owned 0.41% of Vistra worth $162,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its holdings in shares of Vistra by 1.9% in the 1st quarter. Amalgamated Bank now owns 73,908 shares of the company's stock worth $8,680,000 after acquiring an additional 1,387 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Vistra in the 1st quarter worth approximately $341,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Vistra in the 1st quarter worth approximately $432,000. Envestnet Asset Management Inc. boosted its holdings in shares of Vistra by 29.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 255,629 shares of the company's stock worth $30,021,000 after acquiring an additional 57,551 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Vistra by 12.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,955 shares of the company's stock worth $230,000 after buying an additional 224 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Vistra Stock Up 3.5%

Shares of VST opened at $188.39 on Friday. Vistra Corp. has a 12 month low of $66.50 and a 12 month high of $200.25. The firm's 50 day moving average is $174.33 and its 200-day moving average is $152.21. The stock has a market capitalization of $63.93 billion, a PE ratio of 29.42, a P/E/G ratio of 2.17 and a beta of 1.26. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 6.53.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This is a boost from Vistra's previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a dividend yield of 0.48%. Vistra's dividend payout ratio (DPR) is currently 14.15%.

Insider Activity at Vistra

In related news, EVP Carrie Lee Kirby sold 108,000 shares of Vistra stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $156.98, for a total value of $16,953,840.00. Following the transaction, the executive vice president directly owned 218,239 shares of the company's stock, valued at $34,259,158.22. This trade represents a 33.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John R. Sult sold 25,000 shares of the business's stock in a transaction 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 sale, the director directly owned 75,946 shares in the company, valued at approximately $13,037,649.82. The trade was a 24.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 294,000 shares of company stock valued at $47,461,490. 1.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on VST shares. JPMorgan Chase & Co. dropped their target price on shares of Vistra from $203.00 to $186.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Morgan Stanley upped their price objective on shares of Vistra from $178.00 to $186.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Raymond James Financial began coverage on shares of Vistra in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $216.00 price objective for the company. Evercore ISI set a $192.00 price objective on shares of Vistra and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, UBS Group increased their target price on Vistra from $160.00 to $207.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vistra currently has a consensus rating of "Moderate Buy" and an average target price of $176.92.

Vistra Company Profile

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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