Legal & General Buys $503.5M Stake in Xcel Energy
Legal & General Group acquired 6,270,777 shares of Xcel Energy worth about $503.54 million, adding to its position. Empowered, Cary Street Partners and other funds also increased stakes. Xcel Energy disclosed a quarterly dividend of $2.37 annually, with a 64.93% payout ratio. Shares also saw sell-side rating changes and a $101 price target.