Franklin Resources Inc. cut its holdings in shares of Ameren Co. (NYSE:AEE - Free Report) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,900,786 shares of the utilities provider's stock after selling 9,492 shares during the period. Franklin Resources Inc. owned 0.71% of Ameren worth $165,844,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC boosted its stake in shares of Ameren by 1.5% in the third quarter. Metis Global Partners LLC now owns 8,513 shares of the utilities provider's stock worth $745,000 after buying an additional 124 shares during the last quarter. Kentucky Retirement Systems lifted its stake in shares of Ameren by 0.6% in the 2nd quarter. Kentucky Retirement Systems now owns 20,095 shares of the utilities provider's stock valued at $1,429,000 after purchasing an additional 126 shares during the period. NorthRock Partners LLC boosted its holdings in Ameren by 4.2% during the third quarter. NorthRock Partners LLC now owns 3,107 shares of the utilities provider's stock worth $272,000 after buying an additional 126 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Ameren by 1.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,803 shares of the utilities provider's stock valued at $697,000 after buying an additional 135 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in Ameren by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 9,110 shares of the utilities provider's stock valued at $797,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 79.09% of the company's stock.
Insider Transactions at Ameren
In related news, CFO Michael L. Moehn sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.15, for a total value of $598,975.00. Following the sale, the chief financial officer now owns 205,171 shares in the company, valued at $18,906,507.65. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company's stock.
Ameren Stock Performance
NYSE:AEE traded down $1.11 during trading hours on Monday, reaching $88.73. 1,099,612 shares of the company's stock were exchanged, compared to its average volume of 1,558,527. Ameren Co. has a 1-year low of $67.03 and a 1-year high of $95.69. The company has a quick ratio of 0.41, a current ratio of 0.63 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.95 and a beta of 0.48. The company has a 50-day moving average of $89.88 and a 200 day moving average of $82.34.
Ameren Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, December 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.02%. Ameren's dividend payout ratio (DPR) is 63.06%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on AEE. Morgan Stanley raised their target price on Ameren from $86.00 to $94.00 and gave the company an "equal weight" rating in a research report on Friday. Jefferies Financial Group began coverage on Ameren in a research report on Thursday, September 19th. They issued a "buy" rating and a $97.00 target price on the stock. Bank of America increased their price target on Ameren from $86.00 to $87.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Mizuho raised shares of Ameren from a "neutral" rating to an "outperform" rating and upped their target price for the company from $82.00 to $89.00 in a research report on Monday, September 16th. Finally, Barclays lifted their price target on shares of Ameren from $77.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.89.
Read Our Latest Analysis on Ameren
About Ameren
(
Free Report)
Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.
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