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

Victory Capital Management Inc. decreased its position in Evergy, Inc. (NYSE:EVRG) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.’s holdings in Evergy were worth $71,493,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EVRG. Prime Capital Investment Advisors LLC increased its stake in shares of Evergy by 40.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,138 shares of the company’s stock valued at $629,000 after purchasing an additional 2,910 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Evergy by 2.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 515,306 shares of the company’s stock worth $31,954,000 after buying an additional 14,383 shares during the last quarter. Venturi Wealth Management LLC increased its position in Evergy by 230.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after buying an additional 966 shares in the last quarter. United Capital Management of KS Inc. purchased a new position in Evergy during the third quarter valued at $201,000. Finally, Oxbow Advisors LLC bought a new stake in Evergy in the third quarter worth $2,738,000. Institutional investors own 87.24% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the transaction, the senior vice president now owns 35,314 shares in the company, valued at $2,076,463.20. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the sale, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,724 shares of company stock valued at $3,777,059. Insiders own 0.47% of the company’s stock.

Evergy Stock Down 0.9 %

EVRG opened at $62.80 on Friday. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.83 and a beta of 0.62. The firm has a 50 day moving average price of $61.06 and a 200-day moving average price of $57.41. Evergy, Inc. has a twelve month low of $48.04 and a twelve month high of $64.07. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NYSE:EVRG) last announced its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. Equities research analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EVRG shares. UBS Group upgraded Evergy to a “hold” rating in a report on Wednesday, September 18th. Mizuho initiated coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price for the company. Wells Fargo & Company upped their target price 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. Barclays reduced their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.