Principal Financial Group Inc. Buys 18,595 Shares of Evergy, Inc. (NASDAQ:EVRG)

Principal Financial Group Inc. increased its stake in Evergy, Inc. (NASDAQ:EVRG - Free Report) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,197 shares of the company's stock after buying an additional 18,595 shares during the period. Principal Financial Group Inc. owned 0.12% of Evergy worth $17,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EVRG. Raymond James & Associates increased its stake in shares of Evergy by 2.0% in the 2nd quarter. Raymond James & Associates now owns 52,348 shares of the company's stock worth $2,773,000 after acquiring an additional 1,037 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Evergy by 21.9% during the second quarter. HB Wealth Management LLC now owns 6,978 shares of the company's stock valued at $370,000 after purchasing an additional 1,253 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Evergy by 2.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,576 shares of the company's stock worth $2,308,000 after purchasing an additional 1,201 shares in the last quarter. Hantz Financial Services Inc. bought a new position in Evergy during the 2nd quarter valued at approximately $41,000. Finally, Bryn Mawr Capital Management LLC increased its position in Evergy by 5.7% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 132,188 shares of the company's stock valued at $7,012,000 after buying an additional 7,107 shares in the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Performance

NASDAQ:EVRG traded up $0.02 during trading hours on Friday, reaching $61.70. The company had a trading volume of 945,276 shares, compared to its average volume of 2,040,360. The firm's 50 day moving average price is $62.33 and its 200-day moving average price is $59.23. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.75 and a beta of 0.64. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.47.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.33%. This is a positive change from Evergy's previous quarterly dividend of $0.64. The ex-dividend date was Thursday, November 21st. Evergy's dividend payout ratio is 72.16%.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares of the company's stock, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EVRG shares. Jefferies Financial Group began coverage on Evergy in a research note on Thursday, September 19th. They issued a "buy" rating and a $70.00 target price on the stock. UBS Group raised shares of Evergy to a "hold" rating in a research report on Wednesday, September 18th. Barclays decreased their target price on shares of Evergy from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Wells Fargo & Company increased their price target on shares of Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, Mizuho initiated coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.88.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.