Victory Capital Trims Stake in NorthWestern Energy Group

Institutional investor reduces holdings in utility company by nearly 19% in Q3

Mar. 8, 2026 at 1:06pm

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Victory Capital Management Inc. has reduced its stake in NorthWestern Energy Group, Inc. (NYSE:NWE) by 18.9% during the third quarter, according to the company's latest 13F filing. The fund now owns 641,440 shares of the utility company's stock, down from 790,791 shares held previously.

Why it matters

NorthWestern Energy Group is a major electric and natural gas utility serving customers across Montana, South Dakota, and Nebraska. Changes in institutional ownership can provide insights into market sentiment and the outlook for the company.

The details

According to the 13F filing, Victory Capital Management sold 149,351 shares of NorthWestern Energy Group during the third quarter. The fund now owns approximately 1.04% of the company's outstanding shares, valued at $37.6 million as of the end of the reporting period.

  • Victory Capital Management filed its 13F report for the third quarter of 2026.

The players

Victory Capital Management Inc.

An investment management firm that provides a variety of investment strategies and products to institutional and individual investors.

NorthWestern Energy Group, Inc.

A regulated energy utility company based in Sioux Falls, South Dakota that delivers electricity and natural gas to residential, commercial, and industrial customers across Montana, South Dakota, and Nebraska.

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The takeaway

The reduction in Victory Capital's stake in NorthWestern Energy Group suggests the fund may have a more cautious outlook on the utility's prospects, though the reasons behind the move are not entirely clear. Investors will likely continue to monitor changes in institutional ownership and analyst sentiment around the company.