Ameriprise Financial Has Boosted Its Westar Energy (WR) Holding; Abbvie (ABBV) Share Price Rose While King Wealth Management Group Has Lowered by $1.26 Million Its Position

January 15, 2018 - By wolcottdaily

King Wealth Management Group Llc decreased its stake in Abbvie Inc (ABBV) by 30.49% based on its latest 2017Q3 regulatory filing with the SEC. King Wealth Management Group Llc sold 14,269 shares as the company’s stock rose 6.17% with the market. The institutional investor held 32,536 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $2.89 million, down from 46,805 at the end of the previous reported quarter. King Wealth Management Group Llc who had been investing in Abbvie Inc for a number of months, seems to be less bullish one the $160.19 billion market cap company. The stock increased 1.08% or $1.07 during the last trading session, reaching $100.34. About 4.37 million shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since January 15, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Ameriprise Financial Inc increased its stake in Westar Energy Inc (WR) by 31.75% based on its latest 2017Q3 regulatory filing with the SEC. Ameriprise Financial Inc bought 533,878 shares as the company’s stock declined 2.17% while stock markets rallied. The institutional investor held 2.22 million shares of the public utilities company at the end of 2017Q3, valued at $109.88M, up from 1.68M at the end of the previous reported quarter. Ameriprise Financial Inc who had been investing in Westar Energy Inc for a number of months, seems to be bullish on the $7.15 billion market cap company. The stock decreased 0.75% or $0.38 during the last trading session, reaching $50.29. About 740,785 shares traded or 11.91% up from the average. Westar Energy, Inc. (NYSE:WR) has declined 0.52% since January 15, 2017 and is downtrending. It has underperformed by 17.22% the S&P500.

Since August 14, 2017, it had 0 buys, and 5 insider sales for $1.61 million activity. GREENWOOD GREG A sold $510,046 worth of stock or 10,000 shares. 5,000 shares were sold by AKIN BRUCE A, worth $257,500 on Wednesday, August 16. The insider IRICK LARRY D sold 10,000 shares worth $511,651.

Among 9 analysts covering Westar Energy (NYSE:WR), 4 have Buy rating, 0 Sell and 5 Hold. Therefore 44% are positive. Westar Energy had 17 analyst reports since August 11, 2015 according to SRatingsIntel. Barclays Capital maintained Westar Energy, Inc. (NYSE:WR) on Thursday, June 2 with “Equalweight” rating. The stock of Westar Energy, Inc. (NYSE:WR) has “Hold” rating given on Wednesday, June 1 by Gabelli. The firm has “Buy” rating given on Monday, October 2 by Wells Fargo. The stock of Westar Energy, Inc. (NYSE:WR) earned “Overweight” rating by JP Morgan on Tuesday, July 11. The stock of Westar Energy, Inc. (NYSE:WR) earned “Neutral” rating by UBS on Thursday, October 8. The rating was upgraded by Zacks to “Sell” on Tuesday, August 11. Argus Research maintained Westar Energy, Inc. (NYSE:WR) on Tuesday, October 13 with “Buy” rating. The rating was upgraded by JP Morgan to “Neutral” on Friday, November 6. The stock of Westar Energy, Inc. (NYSE:WR) earned “Buy” rating by Mizuho on Monday, March 14. JP Morgan maintained the shares of WR in report on Thursday, October 12 with “Overweight” rating.

Ameriprise Financial Inc, which manages about $210.10 billion US Long portfolio, decreased its stake in Ultimate Software Group Inc (NASDAQ:ULTI) by 62,251 shares to 97,740 shares, valued at $18.53 million in 2017Q3, according to the filing. It also reduced its holding in Lannett Co Inc (NYSE:LCI) by 90,597 shares in the quarter, leaving it with 178,716 shares, and cut its stake in First Trust Mid Cap Core Alp (FNX).

Investors sentiment increased to 1.28 in 2017 Q3. Its up 0.61, from 0.67 in 2017Q2. It is positive, as 23 investors sold WR shares while 84 reduced holdings. 42 funds opened positions while 95 raised stakes. 100.24 million shares or 0.51% more from 99.73 million shares in 2017Q2 were reported. Pictet Asset Management Ltd owns 51,300 shares. 119 were reported by Focused Wealth Mgmt. Advisory Ser Network Llc, Georgia-based fund reported 2,556 shares. Amp holds 0.02% of its portfolio in Westar Energy, Inc. (NYSE:WR) for 86,890 shares. Wells Fargo And Mn has 183,105 shares. Comm Bankshares has invested 0.04% in Westar Energy, Inc. (NYSE:WR). California Public Employees Retirement System stated it has 0.02% of its portfolio in Westar Energy, Inc. (NYSE:WR). Leucadia National accumulated 0.27% or 64,396 shares. Us National Bank De stated it has 27,811 shares or 0% of all its holdings. Benjamin F Edwards Communications owns 117 shares for 0% of their portfolio. Tower Research Capital Ltd Liability Corp (Trc) accumulated 1,966 shares or 0.01% of the stock. 28,816 were accumulated by Bluecrest Management. Miller Howard Investments New York holds 0.04% or 34,862 shares in its portfolio. Quantbot Tech Limited Partnership stated it has 57,430 shares. First Republic Inv reported 29,147 shares stake.

Investors sentiment decreased to 0.85 in Q3 2017. Its down 0.15, from 1 in 2017Q2. It worsened, as 55 investors sold ABBV shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported. Prudential Public Ltd Company has invested 1.29% in AbbVie Inc. (NYSE:ABBV). Comerica Bank, a Michigan-based fund reported 960,373 shares. Shelter Insur Retirement Plan holds 3.13% in AbbVie Inc. (NYSE:ABBV) or 75,700 shares. Dnb Asset Mngmt As reported 0.2% in AbbVie Inc. (NYSE:ABBV). Choate Advsr has 0.54% invested in AbbVie Inc. (NYSE:ABBV). 30,420 were accumulated by Columbia Asset. Mark Sheptoff Fincl Planning Limited Liability Corp owns 44,240 shares. Lenox Wealth owns 12 shares. Synovus Fin Corporation invested in 165,777 shares or 0.28% of the stock. C Grp Inc Hldg A S reported 143,271 shares. Credit Suisse Ag invested 0.28% of its portfolio in AbbVie Inc. (NYSE:ABBV). Macquarie Gp reported 0.05% in AbbVie Inc. (NYSE:ABBV). Partnervest Advisory Services Ltd Limited Liability Company holds 0.34% in AbbVie Inc. (NYSE:ABBV) or 7,961 shares. Bremer Tru National Association reported 18,522 shares stake. Coastline Tru stated it has 19,600 shares or 0.3% of all its holdings.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on January, 26. They expect $1.43 earnings per share, up 19.17% or $0.23 from last year’s $1.2 per share. ABBV’s profit will be $2.28B for 17.54 P/E if the $1.43 EPS becomes a reality. After $1.41 actual earnings per share reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 1.42% EPS growth.

King Wealth Management Group Llc, which manages about $1.58 billion and $269.01 million US Long portfolio, upped its stake in Ishares Tr Core S&P 500 (IVV) by 11,625 shares to 63,253 shares, valued at $16.00 million in 2017Q3, according to the filing.

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 70 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained AbbVie Inc. (NYSE:ABBV) rating on Thursday, January 4. Jefferies has “Buy” rating and $120.0 target. The stock of AbbVie Inc. (NYSE:ABBV) earned “Buy” rating by SunTrust on Monday, October 16. TheStreet upgraded AbbVie Inc. (NYSE:ABBV) on Tuesday, August 11 to “Buy” rating. Leerink Swann initiated the stock with “Mkt Perform” rating in Tuesday, October 18 report. Cowen & Co maintained the shares of ABBV in report on Tuesday, September 5 with “Hold” rating. On Wednesday, October 11 the stock rating was upgraded by Cowen & Co to “Outperform”. The firm has “Hold” rating given on Thursday, July 20 by Credit Suisse. The stock of AbbVie Inc. (NYSE:ABBV) earned “Neutral” rating by UBS on Friday, October 13. The stock has “Buy” rating by SunTrust on Wednesday, July 22. Barclays Capital maintained AbbVie Inc. (NYSE:ABBV) rating on Friday, October 13. Barclays Capital has “Equal-Weight” rating and $9 target.

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