ALLETE, Inc. (NYSE:ALE) Stock Holdings Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,269 shares of the utilities provider's stock after selling 4,292 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of ALLETE worth $4,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Highbridge Capital Management LLC bought a new stake in shares of ALLETE during the 4th quarter worth about $54,592,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in ALLETE during the fourth quarter worth approximately $5,378,000. Barclays PLC lifted its position in ALLETE by 187.1% in the third quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after purchasing an additional 65,222 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in ALLETE by 54.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 169,707 shares of the utilities provider's stock valued at $10,997,000 after purchasing an additional 59,891 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of ALLETE during the 4th quarter valued at $3,522,000. 76.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ALLETE in a report on Friday, January 10th. They set a "hold" rating on the stock.

ALLETE Price Performance

Shares of NYSE ALE traded up $0.05 during trading on Monday, hitting $64.80. The company had a trading volume of 219,628 shares, compared to its average volume of 375,175. The company has a market cap of $3.76 billion, a P/E ratio of 20.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The business's 50-day moving average is $65.30 and its 200 day moving average is $65.00. ALLETE, Inc. has a 52 week low of $59.00 and a 52 week high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.51%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio is presently 94.19%.

About ALLETE

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.