Advisors Asset Management Inc. lessened its stake in Avista Corporation (NYSE:AVA) by 58.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,597 shares of the utilities provider’s stock after selling 8,031 shares during the period. Advisors Asset Management Inc.’s holdings in Avista were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVA. Strs Ohio raised its holdings in shares of Avista by 34.8% in the second quarter. Strs Ohio now owns 6,200 shares of the utilities provider’s stock valued at $263,000 after buying an additional 1,600 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Avista by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the utilities provider’s stock valued at $645,000 after buying an additional 520 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Avista by 3.6% in the second quarter. Great West Life Assurance Co. Can now owns 93,893 shares of the utilities provider’s stock valued at $3,985,000 after buying an additional 3,237 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Avista by 1.0% in the second quarter. Texas Permanent School Fund now owns 47,010 shares of the utilities provider’s stock valued at $1,996,000 after buying an additional 448 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Avista by 13.6% in the second quarter. Sei Investments Co. now owns 90,074 shares of the utilities provider’s stock valued at $3,824,000 after buying an additional 10,758 shares during the last quarter. Institutional investors own 77.35% of the company’s stock.

In related news, VP James M. Kensok sold 4,700 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $52.01, for a total transaction of $244,447.00. Following the completion of the transaction, the vice president now directly owns 12,787 shares of the company’s stock, valued at $665,051.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R John Taylor sold 932 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $51.94, for a total transaction of $48,408.08. Following the completion of the transaction, the director now directly owns 655 shares of the company’s stock, valued at $34,020.70. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 173,000 shares of company stock valued at $47,980 and have sold 6,132 shares valued at $318,760. Corporate insiders own 1.10% of the company’s stock.

Avista Corporation (NYSE AVA) opened at $51.67 on Thursday. The stock has a market cap of $3,330.91, a PE ratio of 25.10 and a beta of 0.42. Avista Corporation has a 1-year low of $37.78 and a 1-year high of $52.83. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 0.92.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.3575 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.43 annualized dividend and a yield of 2.77%. Avista’s dividend payout ratio is currently 71.86%.

Several research analysts recently issued reports on AVA shares. Zacks Investment Research cut shares of Avista from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. KeyCorp reissued a “hold” rating on shares of Avista in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.75.

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Avista Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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