Sei Investments Co. Sells 38,526 Shares of ALLETE, Inc. (NYSE:ALE)

Sei Investments Co. decreased its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 40.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,973 shares of the utilities provider's stock after selling 38,526 shares during the period. Sei Investments Co. owned 0.10% of ALLETE worth $3,692,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of ALLETE by 31.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,470 shares of the utilities provider's stock worth $1,250,000 after purchasing an additional 4,684 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ALLETE by 6.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,461 shares of the utilities provider's stock worth $671,000 after acquiring an additional 639 shares during the period. Captrust Financial Advisors boosted its stake in ALLETE by 38.2% in the third quarter. Captrust Financial Advisors now owns 47,341 shares of the utilities provider's stock valued at $3,039,000 after acquiring an additional 13,080 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of ALLETE by 31.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after acquiring an additional 370 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of ALLETE during the 3rd quarter worth approximately $266,000. Institutional investors own 76.55% of the company's stock.

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ALLETE Price Performance

Shares of ALE stock traded down $0.20 during trading on Tuesday, hitting $64.44. The company had a trading volume of 636,049 shares, compared to its average volume of 368,869. The stock's 50-day moving average is $65.47 and its two-hundred day moving average is $64.96. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 20.79 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. ALLETE, Inc. has a 52 week low of $56.66 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 EPS 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 company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 4.53%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. ALLETE's payout ratio is 94.19%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on ALLETE in a research note on Friday, January 10th. They issued a "hold" rating on the stock.

ALLETE Company Profile

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.