Corebridge Financial Inc. Sells 5,395 Shares of NorthWestern Energy Group, Inc. (NYSE:NWE)

Corebridge Financial Inc. decreased its stake in shares of NorthWestern Energy Group, Inc. (NYSE:NWE) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,604 shares of the company’s stock after selling 5,395 shares during the period. Corebridge Financial Inc. owned about 0.16% of NorthWestern Energy Group worth $5,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of NorthWestern Energy Group during the 3rd quarter valued at $631,000. Systematic Financial Management LP lifted its holdings in NorthWestern Energy Group by 11.8% in the third quarter. Systematic Financial Management LP now owns 1,070,434 shares of the company’s stock valued at $61,250,000 after acquiring an additional 113,265 shares during the period. Assenagon Asset Management S.A. bought a new position in NorthWestern Energy Group in the fourth quarter valued at about $401,000. Intech Investment Management LLC purchased a new position in NorthWestern Energy Group in the third quarter worth about $703,000. Finally, Barclays PLC grew its stake in shares of NorthWestern Energy Group by 204.7% during the 3rd quarter. Barclays PLC now owns 110,571 shares of the company’s stock valued at $6,327,000 after purchasing an additional 74,278 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

NorthWestern Energy Group Stock Performance

NWE opened at $56.80 on Friday. The company has a 50 day simple moving average of $54.64 and a two-hundred day simple moving average of $54.51. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.52 and a quick ratio of 0.37. The firm has a market cap of $3.48 billion, a P/E ratio of 15.56, a PEG ratio of 2.40 and a beta of 0.45. NorthWestern Energy Group, Inc. has a 1-year low of $47.48 and a 1-year high of $57.49.

NorthWestern Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.66 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.64 annualized dividend and a yield of 4.65%. This is an increase from NorthWestern Energy Group’s previous quarterly dividend of $0.65. NorthWestern Energy Group’s dividend payout ratio is currently 72.33%.

Insiders Place Their Bets

In other news, Director Britt E. Ide sold 702 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $54.32, for a total value of $38,132.64. Following the completion of the transaction, the director now owns 11,021 shares of the company’s stock, valued at $598,660.72. This represents a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NWE. Guggenheim upgraded shares of NorthWestern Energy Group from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of NorthWestern Energy Group from a “neutral” rating to a “buy” rating and set a $57.50 price target on the stock in a research report on Wednesday, January 15th. Finally, Barclays cut their price objective on shares of NorthWestern Energy Group from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

About NorthWestern Energy Group

NorthWestern Energy Group, Inc provides electricity and natural gas to residential, commercial, and various industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.