Tue Sep 17 07:22:57 UTC 2024: ## Institutional Investors Make Moves on Genie Energy Stock

**New York, NY** – Bank of New York Mellon Corp reduced its stake in Genie Energy Ltd. (NYSE:GNE) by 14.6% in the second quarter, according to its latest Form 13F filing. This move comes amidst a flurry of activity by other institutional investors.

Dynamic Technology Lab Private Ltd. purchased a new position in Genie Energy during the fourth quarter, while Janney Montgomery Scott LLC increased its holding by 17.7%. Meanwhile, Swiss National Bank and SG Americas Securities LLC also acquired new positions in the oil and gas producer during the fourth and first quarter, respectively. Principal Financial Group Inc. also joined the ranks of Genie Energy investors during the first quarter. Overall, institutional investors now own 49.15% of the company’s stock.

In addition to institutional activity, several insiders have also traded shares. CFO Avi Goldin sold 2,300 shares on September 11th, while Director James A. Courter sold 3,675 shares on September 12th. These transactions come on the heels of a strong earnings report released on August 6th, where Genie Energy reported $0.37 earnings per share (EPS) for the quarter.

Analysts at StockNews.com upgraded Genie Energy from a “hold” rating to a “buy” rating on August 1st. Genie Energy’s dividend payout ratio (DPR) is 60.00%, with a $0.075 quarterly dividend paid on August 22nd.

Genie Energy Ltd. operates in the energy sector, supplying electricity and natural gas to residential and small business customers in the United States and internationally. The company also develops and operates solar energy projects.

**Note:** This news article is based on the information provided in the original text. Further research may be needed to verify the information and provide a more comprehensive overview.

Read More