Cigna Investments Inc. New Has $542,000 Stake in American Water Works (AWK)

Cigna Investments Inc. New lowered its stake in American Water Works (NYSE:AWK) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,950 shares of the utilities provider’s stock after selling 508 shares during the period. Cigna Investments Inc. New’s holdings in American Water Works were worth $542,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. HL Financial Services LLC increased its position in American Water Works by 20.7% in the second quarter. HL Financial Services LLC now owns 19,083 shares of the utilities provider’s stock valued at $1,488,000 after buying an additional 3,274 shares during the period. Pictet Asset Management Ltd. increased its position in American Water Works by 3.2% in the second quarter. Pictet Asset Management Ltd. now owns 4,004,935 shares of the utilities provider’s stock valued at $313,105,000 after buying an additional 125,587 shares during the period. Davis R M Inc. increased its position in American Water Works by 12.4% in the second quarter. Davis R M Inc. now owns 339,496 shares of the utilities provider’s stock valued at $26,464,000 after buying an additional 37,406 shares during the period. Perennial Advisors LLC increased its position in American Water Works by 8.3% in the second quarter. Perennial Advisors LLC now owns 25,811 shares of the utilities provider’s stock valued at $2,012,000 after buying an additional 1,981 shares during the period. Finally, Retirement Systems of Alabama increased its position in American Water Works by 0.3% in the second quarter. Retirement Systems of Alabama now owns 86,398 shares of the utilities provider’s stock valued at $6,735,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

American Water Works (NYSE AWK) opened at 81.33 on Tuesday. The company has a market cap of $14.50 billion, a P/E ratio of 30.70 and a beta of 0.25. American Water Works has a 12 month low of $69.41 and a 12 month high of $82.89. The firm has a 50-day moving average price of $79.99 and a 200 day moving average price of $77.82.

American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.07. The business had revenue of $844 million during the quarter, compared to analyst estimates of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. On average, equities analysts expect that American Water Works will post $3.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Monday, August 7th. American Water Works’s dividend payout ratio is presently 62.64%.

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Several equities analysts recently commented on the company. BidaskClub downgraded American Water Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded American Water Works from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vetr downgraded American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a research report on Wednesday, June 14th. Northcoast Research assumed coverage on American Water Works in a research report on Thursday, May 25th. They set a “neutral” rating for the company. Finally, Robert W. Baird downgraded American Water Works from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $69.41 to $82.00 in a research report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. American Water Works currently has a consensus rating of “Hold” and an average price target of $82.63.

In other American Water Works news, SVP Loyd A. Warnock sold 2,236 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $75.73, for a total value of $169,332.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Loyd A. Warnock sold 1,263 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $75.21, for a total value of $94,990.23. Following the completion of the sale, the senior vice president now directly owns 7,055 shares in the company, valued at approximately $530,606.55. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

About American Water Works

American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.

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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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