Principal Financial Group Inc. Decreases Stock Holdings in Vistra Corp. (NYSE:VST)

Principal Financial Group Inc. cut its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 514,342 shares of the company's stock after selling 36,482 shares during the period. Principal Financial Group Inc. owned about 0.15% of Vistra worth $70,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VST. Creative Planning lifted its position in Vistra by 33.3% during the third quarter. Creative Planning now owns 31,052 shares of the company's stock valued at $3,681,000 after purchasing an additional 7,753 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Vistra by 43.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 235,198 shares of the company's stock valued at $27,880,000 after acquiring an additional 70,780 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Vistra in the 3rd quarter worth approximately $216,000. Signaturefd LLC raised its stake in Vistra by 12.6% during the 3rd quarter. Signaturefd LLC now owns 2,604 shares of the company's stock worth $309,000 after acquiring an additional 292 shares during the period. Finally, Segment Wealth Management LLC purchased a new position in Vistra during the third quarter valued at approximately $389,000. 90.88% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Scott A. Hudson sold 115,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the transaction, the executive vice president now owns 254,932 shares of the company's stock, valued at $41,849,637.12. This trade represents a 31.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott B. Helm sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the sale, the director now owns 343,350 shares of the company's stock, valued at $47,990,029.50. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

Vistra Trading Down 7.8 %

VST stock traded down $12.67 during mid-day trading on Friday, reaching $150.51. 9,944,101 shares of the stock traded hands, compared to its average volume of 9,293,202. The business has a 50-day moving average price of $160.19 and a two-hundred day moving average price of $131.92. The stock has a market capitalization of $51.21 billion, a PE ratio of 28.08, a PEG ratio of 1.12 and a beta of 1.22. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. Vistra Corp. has a one year low of $46.18 and a one year high of $199.84.

Vistra declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.2235 per share. This represents a $0.89 annualized dividend and a dividend yield of 0.59%. This is a positive change from Vistra's previous quarterly dividend of $0.22. Vistra's payout ratio is 16.60%.

Analyst Ratings Changes

Several research firms recently issued reports on VST. BMO Capital Markets increased their target price on Vistra from $151.00 to $191.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Evercore ISI initiated coverage on shares of Vistra in a research report on Tuesday, January 21st. They set an "outperform" rating and a $202.00 price objective on the stock. UBS Group raised their target price on shares of Vistra from $161.00 to $174.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Bank of America began coverage on shares of Vistra in a research note on Monday, January 27th. They issued a "neutral" rating and a $206.00 price target on the stock. Finally, Morgan Stanley lifted their target price on Vistra from $135.00 to $169.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $171.64.

Vistra Company Profile

Vistra Corp., together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia.