Zurcher Kantonalbank Zurich Cantonalbank Acquires 106,668 Shares of FirstEnergy Corporation $FE

Key Points

• Zurcher Kantonalbank boosted its stake in FirstEnergy by 77.2%, buying 106,668 shares to hold 244,799 shares worth about $10.96 million after the quarter.
• Insiders have been net sellers: CFO Jon Taylor sold 26,800 shares at an average $50.94, and insiders sold 39,118 shares in the past 90 days, leaving insiders with just 0.14% ownership.
• Dividend raised to $0.465 quarterly (annualized $1.86) for a 3.7% yield, though the payout ratio stands at a high 101.14%.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 77.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,799 shares of the utilities provider's stock after purchasing an additional 106,668 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in FirstEnergy were worth $10,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC raised its position in FirstEnergy by 4.8% in the 4th quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider's stock valued at $232,000 after purchasing an additional 235 shares during the last quarter. Independent Advisor Alliance raised its position in FirstEnergy by 1.0% in the 3rd quarter. Independent Advisor Alliance now owns 23,225 shares of the utilities provider's stock valued at $1,064,000 after purchasing an additional 236 shares during the last quarter. Brighton Jones LLC increased its position in FirstEnergy by 4.0% in the 3rd quarter. Brighton Jones LLC now owns 6,635 shares of the utilities provider's stock valued at $304,000 after acquiring an additional 258 shares in the last quarter. Breakwater Capital Group increased its position in FirstEnergy by 3.1% in the 3rd quarter. Breakwater Capital Group now owns 8,779 shares of the utilities provider's stock valued at $402,000 after acquiring an additional 262 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in FirstEnergy by 1.6% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 17,316 shares of the utilities provider's stock valued at $793,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

Insider Transactions at FirstEnergy

In other news, CFO Jon Taylor K. sold 26,800 shares of FirstEnergy stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total transaction of $1,365,192.00. Following the transaction, the chief financial officer directly owned 119,552 shares of the company's stock, valued at $6,089,978.88. This trade represents a 18.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jason Lisowski sold 3,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $50.84, for a total value of $152,520.00. Following the transaction, the chief accounting officer directly owned 7,176 shares of the company's stock, valued at $364,827.84. This represents a 29.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 39,118 shares of company stock worth $1,989,532. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays raised their price objective on shares of FirstEnergy from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Mizuho set a $51.00 price objective on shares of FirstEnergy in a research report on Thursday, February 19th. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research report on Thursday, February 19th. New Street Research set a $52.00 target price on shares of FirstEnergy in a research report on Tuesday. Finally, Wells Fargo & Company restated an "overweight" rating and set a $55.00 target price on shares of FirstEnergy in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $51.57.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $49.60 on Friday. The firm has a fifty day moving average of $50.39 and a two-hundred day moving average of $47.60. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.32 and a beta of 0.60. FirstEnergy Corporation has a 52 week low of $39.28 and a 52 week high of $52.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.46 and a current ratio of 0.57.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Tuesday, February 17th. The utilities provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.20 billion. FirstEnergy had a net margin of 6.76% and a return on equity of 10.50%. During the same quarter in the previous year, the company posted $0.67 EPS. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, equities research analysts predict that FirstEnergy Corporation will post 2.73 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 7th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, May 7th. This is an increase from FirstEnergy's previous quarterly dividend of $0.45. FirstEnergy's dividend payout ratio is presently 101.14%.

About FirstEnergy

FirstEnergy Corp. NYSE: FE is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company's primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy's service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy's core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.