Ameritas Advisory Services LLC, an investment advisory firm, has recently boosted its stake in Hawaiian Electric Industries, Inc. (HE:NYE) by 39.7% during the fourth quarter. With a considerable increase in HE stock shares, Ameritas Advisory Services LLC now holds a more substantial position as the utility provider.
Ameritas Advisory Services LLC’s Growing Holdings:
According to the latest 13F filing with the Securities and Exchange Commission, Ameritas Advisory Services LLC purchased an additional 4,090 shares of HE stock during the fourth quarter, representing a 39.7% increase in its stake. As a result, the firm now owns a total of 14,399 shares, valued at approximately $603,000 as of the reporting period’s end. This move demonstrates Ameritas Advisory Services LLC’s confidence in the future prospects of Hawaiian Electric Industries.
Hedge Fund Activity:
Ameritas Advisory Services LLC is not the only hedge fund modifying its holdings in Hawaiian Electric Industries. State Street Corp, for instance, witnessed a 17.6% increase in its stake during the first quarter. Similarly, other notable institutions like PATRIZIA Pty Ltd, Vanguard Group Inc., Allianz Asset Management GmbH, and Balyasny Asset Management LLC have also made adjustments to their positions in the company. Overall, approximately 52.99% of HE stock is owned by hedge funds and institutional investors.
HE Stock-Insider Trading Activity:
Director Keith P. Russell recently sold 10,000 shares of HE stock. The transaction took place on March 8th, with the shares sold at an average price of $39.21, amounting to a total transaction value of $392,100. Following this sale, Keith P. Russell now holds 23,447 shares in the company, valued at $919,356.87. Such insider activity can provide insights into the sentiments of company insiders regarding its future prospects.
HE Stock Performance & Analyst Targets:
Several analysts have recently issued reports on Hawaiian Electric Industries (HE). Guggenheim lowered their price target to $42.00, rating the stock as “neutral.” It is important to note that Hawaiian Electric Industries’ stock has a 1-year low of $33.18 and a 1-year high of $44.01. The stock’s performance will be closely monitored by investors and analysts going forward.
HE Stock Dividend Announcement:
Hawaiian Electric Industries recently announced its quarterly dividend, which is set to be paid on June 9th. Shareholders of record on May 19th will receive a dividend of $0.36 per share. The ex-dividend date for this dividend was May 18th. This represents an annualized dividend of $1.44 per share and a yield of 4.00%. The dividend payout ratio (DPR) for Hawaiian Electric Industries is currently 69.57%.
Conclusion:
Ameritas Advisory Services LLC’s increased stake in Hawaiian Electric Industries showcases growing investor confidence in the company. As other hedge funds and institutions also adjust their holdings, it highlights the potential appeal of Hawaiian Electric Industries as an investment opportunity. Investors will continue to monitor the stock’s performance and the utility provider’s future prospects with interest.
