American International Group Inc. Has $5.59 Million Position in Ameren Corp (AEE)
American International Group Inc. boosted its holdings in shares of Ameren Corp (NYSE:AEE) by 7.0% in the 3rd quarter, Holdings Channel reports. The fund owned 88,357 shares of the utilities provider’s stock after buying an additional 5,759 shares during the quarter. American International Group Inc.’s holdings in Ameren were worth $5,586,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its stake in Ameren by 6.0% during the third quarter. BlackRock Inc. now owns 17,545,292 shares of the utilities provider’s stock worth $1,109,213,000 after acquiring an additional 987,641 shares during the last quarter. Bank of Montreal Can increased its stake in Ameren by 7.8% during the third quarter. Bank of Montreal Can now owns 5,360,731 shares of the utilities provider’s stock worth $338,906,000 after acquiring an additional 386,293 shares during the last quarter. Wells Fargo & Company MN increased its stake in Ameren by 1.1% during the third quarter. Wells Fargo & Company MN now owns 4,618,373 shares of the utilities provider’s stock worth $291,974,000 after acquiring an additional 50,663 shares during the last quarter. Renaissance Technologies LLC increased its stake in Ameren by 7.4% during the second quarter. Renaissance Technologies LLC now owns 4,100,847 shares of the utilities provider’s stock worth $249,537,000 after acquiring an additional 282,247 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Ameren during the third quarter worth $154,395,000. 72.48% of the stock is owned by institutional investors.
In other news, SVP Gregory L. Nelson sold 10,000 shares of Ameren stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $69.00, for a total value of $690,000.00. Following the completion of the sale, the senior vice president now directly owns 46,095 shares of the company’s stock, valued at $3,180,555. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael L. Moehn sold 8,000 shares of Ameren stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $69.00, for a total value of $552,000.00. Following the completion of the sale, the insider now directly owns 80,567 shares of the company’s stock, valued at $5,559,123. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Ameren (NYSE:AEE) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.19. Ameren had a return on equity of 11.38% and a net margin of 10.95%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, research analysts anticipate that Ameren Corp will post 3.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, December 12th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, December 11th. This is a boost from Ameren’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.71%. Ameren’s payout ratio is presently 64.66%.
Several equities research analysts have issued reports on the company. UBS Group cut Ameren from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a research note on Thursday, November 29th. Barclays set a $67.00 target price on Ameren and gave the stock a “hold” rating in a research note on Saturday, November 17th. ValuEngine raised Ameren from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Wolfe Research cut Ameren from an “outperform” rating to a “hold” rating in a research note on Friday, October 26th. Finally, SunTrust Banks assumed coverage on Ameren in a research note on Wednesday, September 26th. They set a “hold” rating and a $64.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $66.38.
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Ameren Corporation operates as a public utility holding company in the United States. It operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The company engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses.
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