Assenagon Asset Management S.A. Sells 343,103 Shares of Avista Co. (NYSE:AVA)

Assenagon Asset Management S.A. trimmed its holdings in shares of Avista Co. (NYSE:AVA - Free Report) by 91.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,104 shares of the utilities provider's stock after selling 343,103 shares during the period. Assenagon Asset Management S.A.'s holdings in Avista were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Avista during the 3rd quarter valued at $28,000. Capital Performance Advisors LLP purchased a new position in Avista in the third quarter valued at about $29,000. Versant Capital Management Inc increased its position in Avista by 43.0% in the 4th quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider's stock worth $63,000 after purchasing an additional 518 shares during the last quarter. Eastern Bank raised its stake in shares of Avista by 309.3% during the 4th quarter. Eastern Bank now owns 1,842 shares of the utilities provider's stock worth $67,000 after purchasing an additional 1,392 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Avista by 46.9% during the 3rd quarter. KBC Group NV now owns 2,098 shares of the utilities provider's stock valued at $81,000 after buying an additional 670 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group assumed coverage on shares of Avista in a research report on Monday, December 9th. They set a "hold" rating and a $40.00 price objective on the stock.

Avista Stock Up 0.5 %

Shares of NYSE:AVA traded up $0.18 on Friday, reaching $36.00. The company had a trading volume of 402,735 shares, compared to its average volume of 386,756. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2.85 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.68 and a beta of 0.49. The stock has a 50-day moving average price of $37.03 and a 200 day moving average price of $37.68. Avista Co. has a twelve month low of $31.91 and a twelve month high of $39.99.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.10. Avista had a return on equity of 7.83% and a net margin of 10.24%. The firm had revenue of $383.70 million during the quarter, compared to analysts' expectations of $389.29 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Avista Co. will post 2.3 EPS for the current year.

Avista Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, November 26th were given a dividend of $0.475 per share. The ex-dividend date was Tuesday, November 26th. This represents a $1.90 annualized dividend and a dividend yield of 5.28%. Avista's dividend payout ratio is presently 75.70%.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.