Principal Financial Group Inc. Purchases 25,164 Shares of IdaCorp Inc. (IDA)
Principal Financial Group Inc. increased its position in shares of IdaCorp Inc. (NYSE:IDA) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,192 shares of the company’s stock after buying an additional 25,164 shares during the period. Principal Financial Group Inc. owned about 0.38% of IdaCorp worth $15,553,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IDA. IFP Advisors Inc increased its position in shares of IdaCorp by 31.8% in the first quarter. IFP Advisors Inc now owns 1,844 shares of the company’s stock worth $138,000 after buying an additional 445 shares during the last quarter. Creative Planning increased its position in shares of IdaCorp by 1.5% in the second quarter. Creative Planning now owns 1,731 shares of the company’s stock worth $141,000 after buying an additional 25 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of IdaCorp by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 1,880 shares of the company’s stock worth $152,000 after buying an additional 105 shares during the last quarter. World Asset Management Inc bought a new position in shares of IdaCorp during the second quarter worth about $200,000. Finally, Boothbay Fund Management LLC bought a new position in shares of IdaCorp during the first quarter worth about $210,000. 74.35% of the stock is owned by institutional investors.
Shares of IdaCorp Inc. (NYSE:IDA) traded up 0.128% on Friday, reaching $74.395. The company’s stock had a trading volume of 14,243 shares. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 19.999 and a beta of 0.50. IdaCorp Inc. has a 1-year low of $64.17 and a 1-year high of $83.40. The stock has a 50-day moving average price of $77.39 and a 200-day moving average price of $76.16.
IdaCorp (NYSE:IDA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. IdaCorp had a return on equity of 9.05% and a net margin of 14.97%. During the same period last year, the company posted $1.31 EPS. On average, equities research analysts forecast that IdaCorp Inc. will post $3.89 EPS for the current year.
In other news, insider Rex Blackburn sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now owns 27,456 shares of the company’s stock, valued at approximately $2,238,487.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Lamont Keen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $78.54, for a total value of $314,160.00. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.
IDACORP, Inc is a holding company. The Company’s operating subsidiary is Idaho Power Company (Idaho Power), which is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity. Its segments are utility operations and all other. The utility operations segment consists of the regulated operations of Idaho Power, which include the generation, transmission, distribution, purchase and sale of electricity, and Idaho Energy Resources Co (IERCo), a subsidiary of Idaho Power and a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant owned in part by Idaho Power.
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