Legal & General Group Plc Sells 119,353 Shares of Evergy Inc. $EVRG

Key Points

• Legal & General Group Plc reduced its Evergy stake by 6.7% in the fourth quarter, selling 119,353 shares and leaving it with 1,673,376 shares valued at about $121.3 million.
• Evergy reported stronger-than-expected quarterly results, posting EPS of $0.69 versus the $0.63 estimate and revenue of $1.44 billion versus the $1.27 billion forecast, while also reaffirming FY 2026 EPS guidance of $4.14 to $4.34.
• The company continues to reward shareholders with a quarterly dividend of $0.695 per share, or $2.78 annually, which implies a 3.4% yield; meanwhile, analysts maintain a Moderate Buy consensus with a $89.60 price target.

Legal & General Group Plc lowered its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,673,376 shares of the company's stock after selling 119,353 shares during the period. Legal & General Group Plc owned about 0.73% of Evergy worth $121,303,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd purchased a new stake in Evergy during the third quarter valued at about $72,860,000. Truist Financial Corp increased its holdings in shares of Evergy by 169.2% in the third quarter. Truist Financial Corp now owns 1,438,958 shares of the company's stock worth $109,390,000 after buying an additional 904,400 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Evergy by 136.7% in the third quarter. Envestnet Asset Management Inc. now owns 1,003,616 shares of the company's stock worth $76,295,000 after buying an additional 579,531 shares during the period. BROOKFIELD Corp ON bought a new stake in shares of Evergy in the 2nd quarter valued at about $29,644,000. Finally, Cramer Rosenthal Mcglynn LLC bought a new stake in shares of Evergy in the 3rd quarter valued at about $28,358,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Insiders Place Their Bets

In related news, SVP Charles L. King sold 2,440 shares of Evergy stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $82.19, for a total value of $200,543.60. Following the sale, the senior vice president owned 18,359 shares in the company, valued at $1,508,926.21. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Heather A. Humphrey sold 3,650 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total transaction of $301,526.50. Following the transaction, the senior vice president directly owned 44,007 shares in the company, valued at approximately $3,635,418.27. The trade was a 7.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.52% of the company's stock.

Evergy Stock Down 1.6%

NASDAQ EVRG opened at $82.85 on Friday. Evergy Inc. has a 1 year low of $64.70 and a 1 year high of $85.27. The stock has a market capitalization of $19.10 billion, a PE ratio of 21.98, a PEG ratio of 2.18 and a beta of 0.56. 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 business's 50-day moving average is $82.07 and its 200 day moving average is $78.79.

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

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 22nd will be paid a $0.695 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy's dividend payout ratio (DPR) is presently 73.74%.

Analysts Set New Price Targets

Several research firms recently issued reports on EVRG. Barclays raised their price target on Evergy from $82.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 9th. Mizuho set a $82.00 price objective on Evergy in a research note on Monday, February 23rd. Citigroup raised their target price on shares of Evergy from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings raised shares of Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Finally, UBS Group upped their price target on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.60.

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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