Zurich Insurance Group Ltd FI Invests $956,000 in PNM Resources, Inc. (Holding Co.) (PNM) Stock

Zurich Insurance Group Ltd FI bought a new stake in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,000 shares of the utilities provider’s stock, valued at approximately $956,000.

A number of other hedge funds also recently bought and sold shares of PNM. IFP Advisors Inc lifted its stake in PNM Resources, Inc. (Holding Co.) by 42.2% in the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,260 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,499 shares during the period. US Bancorp DE lifted its stake in shares of PNM Resources, Inc. (Holding Co.) by 23.7% during the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 905 shares during the period. HighTower Advisors LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) during the 1st quarter worth $207,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) during the 2nd quarter worth $209,000. 94.31% of the stock is currently owned by hedge funds and other institutional investors.

PNM Resources, Inc. (PNM) opened at 40.45 on Tuesday. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $43.05. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 23.25 and a beta of 0.30. The firm’s 50 day moving average price is $41.79 and its 200-day moving average price is $39.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. During the same period last year, the business earned $0.40 EPS. Analysts expect that PNM Resources, Inc. will post $1.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, October 30th will be paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is currently 55.43%.

ILLEGAL ACTIVITY NOTICE: “Zurich Insurance Group Ltd FI Invests $956,000 in PNM Resources, Inc. (Holding Co.) (PNM) Stock” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/10/zurich-insurance-group-ltd-fi-invests-956000-in-pnm-resources-inc-holding-co-pnm-stock.html.

PNM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. ValuEngine lowered PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub lowered PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, KeyCorp reissued a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $38.91.

In other PNM Resources, Inc. (Holding Co.) news, SVP Ronald N. Darnell sold 5,000 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction on Friday, August 11th. The shares were sold at an average price of $40.97, for a total transaction of $204,850.00. Following the completion of the sale, the senior vice president now owns 24,053 shares of the company’s stock, valued at approximately $985,451.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patrick V. Apodaca sold 5,333 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total transaction of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares of the company’s stock, val

A number of other hedge funds also recently bought and sold shares of PNM. IFP Advisors Inc lifted its stake in PNM Resources, Inc. (Holding Co.) by 42.2% in the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,260 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,499 shares during the period. US Bancorp DE lifted its stake in shares of PNM Resources, Inc. (Holding Co.) by 23.7% during the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 905 shares during the period. HighTower Advisors LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) during the 1st quarter worth $207,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) during the 2nd quarter worth $209,000. 94.31% of the stock is currently owned by hedge funds and other institutional investors.

PNM Resources, Inc. (PNM) opened at 40.45 on Tuesday. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $43.05. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 23.25 and a beta of 0.30. The firm’s 50 day moving average price is $41.79 and its 200-day moving average price is $39.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. During the same period last year, the business earned $0.40 EPS. Analysts expect that PNM Resources, Inc. will post $1.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, October 30th will be paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is currently 55.43%.

ILLEGAL ACTIVITY NOTICE: “Zurich Insurance Group Ltd FI Invests $956,000 in PNM Resources, Inc. (Holding Co.) (PNM) Stock” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/10/zurich-insurance-group-ltd-fi-invests-956000-in-pnm-resources-inc-holding-co-pnm-stock.html.

PNM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. ValuEngine lowered PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub lowered PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, KeyCorp reissued a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $38.91.

In other PNM Resources, Inc. (Holding Co.) news, SVP Ronald N. Darnell sold 5,000 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction on Friday, August 11th. The shares were sold at an average price of $40.97, for a total transaction of $204,850.00. Following the completion of the sale, the senior vice president now owns 24,053 shares of the company’s stock, valued at approximately $985,451.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patrick V. Apodaca sold 5,333 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total transaction of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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