The Manufacturers Life Insurance Company reduced its stake in Ameren Co. (NYSE:AEE - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 588,943 shares of the utilities provider's stock after selling 42,663 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.22% of Ameren worth $51,509,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Ameren by 115.3% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider's stock valued at $26,000 after buying an additional 196 shares during the period. First Command Advisory Services Inc. purchased a new stake in Ameren in the second quarter valued at $26,000. Pathway Financial Advisers LLC acquired a new position in shares of Ameren in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ameren by 227.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider's stock worth $34,000 after purchasing an additional 316 shares during the period. Finally, American National Bank acquired a new stake in shares of Ameren during the 2nd quarter worth about $37,000. 79.09% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AEE has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Ameren from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Mizuho upgraded shares of Ameren from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $82.00 to $89.00 in a report on Monday, September 16th. Argus upgraded shares of Ameren to a "strong-buy" rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their target price on Ameren from $91.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Finally, BMO Capital Markets raised their price target on Ameren from $84.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.90.
View Our Latest Analysis on Ameren
Ameren Stock Down 0.6 %
NYSE AEE traded down $0.59 during trading hours on Friday, hitting $94.39. 586,666 shares of the company were exchanged, compared to its average volume of 1,581,861. 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 cap of $25.20 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.13 and a beta of 0.45. The company has a 50 day moving average of $88.81 and a two-hundred day moving average of $80.81. Ameren Co. has a 52-week low of $67.03 and a 52-week high of $95.69.
Ameren Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $2.68 annualized dividend and a yield of 2.84%. Ameren's dividend payout ratio (DPR) is 63.06%.
Insider Buying and Selling
In other news, CFO Michael L. Moehn sold 6,500 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $92.15, for a total value of $598,975.00. Following the sale, the chief financial officer now directly owns 205,171 shares in the company, valued at approximately $18,906,507.65. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.
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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