Victory Capital Management Inc. Sells 25,366 Shares of Evergy, Inc. (NYSE:EVRG)

Victory Capital Management Inc. cut its position in Evergy, Inc. (NYSE:EVRG) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,152,923 shares of the company’s stock after selling 25,366 shares during the quarter. Victory Capital Management Inc. owned about 0.50% of Evergy worth $71,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in shares of Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after purchasing an additional 170 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Evergy by 12.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,705 shares of the company’s stock worth $90,000 after buying an additional 187 shares during the last quarter. Blue Trust Inc. raised its position in shares of Evergy by 16.3% during the 2nd quarter. Blue Trust Inc. now owns 1,483 shares of the company’s stock valued at $79,000 after buying an additional 208 shares in the last quarter. Keeley Teton Advisors LLC lifted its holdings in shares of Evergy by 0.6% during the 1st quarter. Keeley Teton Advisors LLC now owns 37,950 shares of the company’s stock worth $2,026,000 after acquiring an additional 210 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Evergy by 1.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 18,563 shares of the company’s stock worth $1,138,000 after acquiring an additional 212 shares during the last quarter. 87.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,724 shares of company stock valued at $3,777,059 over the last ninety days. 0.47% of the stock is owned by insiders.

Evergy Price Performance

Shares of Evergy stock opened at $62.80 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a one year low of $48.04 and a one year high of $64.07. The business’s 50 day simple moving average is $61.06 and its two-hundred day simple moving average is $57.41. The stock has a market capitalization of $14.44 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.83 and a beta of 0.62.

Evergy (NYSE:EVRG) last issued its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 earnings per share. Analysts forecast that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.6675 per share. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Thursday, November 21st. Evergy’s dividend payout ratio is currently 72.16%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EVRG. Mizuho assumed coverage on Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price on the stock. Jefferies Financial Group started coverage on Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective on the stock. UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Barclays cut their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Evergy currently has an average rating of “Moderate Buy” and an average price target of $61.88.

About Evergy

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.