Portfolio Adjustments
Allworth Financial Adjusts Portfolio Stakes Across Five Major Holdings
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Key Points
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Other institutional investors made substantially larger additions to Capital Group Dividend Growers ETF than Allworth: Ameritas Advisory Services increased its position by 59.6% to 144,797 shares, while Kintra Wealth more than doubled its holdings by 158.2% to 46,706 shares.
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Aon reported that hedge funds and other institutional investors collectively owned 86.14% of its stock; the company also paid a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28.
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Diamondback Energy saw exceptionally large institutional buying in the quarter: California State Teachers’ Retirement System increased its position by 17,811.7% to 38.86 million shares, while BlackRock acquired a new position valued at about $3.30 billion.
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Dominion Energy’s analyst outlook included specific target-price reductions: Truist Financial cut its target from $68 to $66 while maintaining a hold rating, and Morgan Stanley lowered its target from $71 to $68 with an equal-weight rating.
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Dominion Energy was still overwhelmingly institutionally owned after the reported transactions, with hedge funds and other institutional investors holding 73.04% of the company’s stock.
Allworth Financial LP adjusted its stock portfolio in the second quarter, moving money between five holdings with mixed results. The firm grew its stakes in dividend-focused and energy stocks while trimming its position in a utility company, signaling a shift toward higher-yield investments Ticker Report.
The moves reflect broader institutional trading patterns. Other large investors made even bigger bets on some of these same securities, particularly in energy stocks where a major California pension fund and BlackRock deployed billions Ticker Report.
Capital Group ETF Gets 34% Boost
Allworth Financial bought more shares of Capital Group Dividend Growers ETF, pushing its stake up 34.5% to 59,620 shares worth about $2.24 million Ticker Report. But Allworth's move was small compared to other institutions. Ameritas Advisory Services added 59.6% to its position, reaching 144,797 shares. Kintra Wealth went even further, more than doubling its holdings by 158.2% to 46,706 shares Ticker Report.
Energy Stocks Attract Heavy Institutional Buying
Allworth increased its Diamondback Energy position by 43.3% to roughly $2.08 million. The quarter saw massive institutional interest in the energy company. California State Teachers' Retirement System exploded its stake by 17,811.7% to 38.86 million shares Ticker Report. BlackRock separately bought in at about $3.30 billion, marking a brand-new position Ticker Report.
Allworth also boosted Aon by 61.6%, bringing that holding to roughly $1.92 million Ticker Report. Hedge funds and other large investors collectively own 86.14% of Aon's stock. The company pays investors quarterly, with a dividend of $0.82 per share — equal to $3.28 per year Ticker Report.
Dominion Energy Stake Reduced Despite Strong Ownership
Allworth cut its Dominion Energy holdings by 24.6%, leaving it with 30,038 shares worth about $2.05 million Ticker Report. The utility remains heavily owned by institutions, who hold 73.04% of all shares. But Wall Street has turned cautious. Truist Financial lowered its price target from $68 to $66 while keeping a hold rating Ticker Report. Morgan Stanley dropped its target from $71 to $68 with an equal-weight rating Ticker Report.
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