Russell Investments Group Ltd. Has $30.50 Million Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Russell Investments Group Ltd. cut its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 594,436 shares of the company’s stock after selling 52,322 shares during the period. Russell Investments Group Ltd. owned 0.23% of Alliant Energy worth $30,495,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LNT. Compagnie Lombard Odier SCmA acquired a new position in shares of Alliant Energy during the 3rd quarter worth about $38,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Alliant Energy by 1.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 96,950 shares of the company’s stock worth $4,697,000 after buying an additional 1,209 shares during the period. Xponance Inc. boosted its holdings in shares of Alliant Energy by 3.4% during the 3rd quarter. Xponance Inc. now owns 34,671 shares of the company’s stock worth $1,680,000 after buying an additional 1,130 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Alliant Energy by 5.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 64,614 shares of the company’s stock worth $3,131,000 after buying an additional 3,510 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in shares of Alliant Energy during the 3rd quarter worth about $53,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on LNT. Scotiabank reduced their target price on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Bank of America reduced their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 11th. BMO Capital Markets lifted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. LADENBURG THALM/SH SH cut their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a report on Monday. Finally, Barclays reissued an “equal weight” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.71.

Insider Transactions at Alliant Energy

In other news, CEO Lisa M. Barton purchased 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $48.56 per share, with a total value of $53,416.00. Following the acquisition, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Alliant Energy Stock Performance

NASDAQ LNT opened at $49.80 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $12.75 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.65 and a beta of 0.55. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $56.26. The firm has a 50-day moving average price of $48.96 and a two-hundred day moving average price of $49.55.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. The firm had revenue of $961.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company posted $0.46 EPS. Analysts anticipate that Alliant Energy Co. will post 3.08 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is presently 69.06%.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.