Ameriprise Financial Inc. Trims Position in Ameren Corporation (AEE)
Ameriprise Financial Inc. decreased its stake in shares of Ameren Corporation (NYSE:AEE) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,719,244 shares of the utilities provider’s stock after selling 253,696 shares during the period. Ameriprise Financial Inc. owned 1.12% of Ameren Corporation worth $157,282,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Swiss National Bank increased its stake in shares of Ameren Corporation by 2.7% in the 2nd quarter. Swiss National Bank now owns 994,693 shares of the utilities provider’s stock valued at $54,380,000 after acquiring an additional 26,500 shares during the last quarter. Keybank National Association OH increased its stake in Ameren Corporation by 2.4% during the 2nd quarter. Keybank National Association OH now owns 556,239 shares of the utilities provider’s stock worth $30,410,000 after purchasing an additional 13,022 shares in the last quarter. ETRADE Capital Management LLC bought a new stake in Ameren Corporation during the 2nd quarter worth approximately $854,000. Captrust Financial Advisors bought a new stake in Ameren Corporation during the 2nd quarter worth approximately $523,000. Finally, Aviva PLC increased its stake in Ameren Corporation by 0.8% during the 2nd quarter. Aviva PLC now owns 151,231 shares of the utilities provider’s stock worth $8,268,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 70.52% of the company’s stock.
AEE has been the subject of a number of research reports. Morgan Stanley increased their target price on Ameren Corporation from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. BidaskClub raised Ameren Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Ameren Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. KeyCorp reaffirmed a “hold” rating on shares of Ameren Corporation in a research report on Friday, October 20th. Finally, Bank of America Corporation began coverage on Ameren Corporation in a research report on Tuesday, October 24th. They set a “neutral” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.00.
Ameren Corporation (NYSE AEE) opened at $62.98 on Friday. Ameren Corporation has a 12-month low of $48.32 and a 12-month high of $64.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.40 and a current ratio of 0.61. The firm has a market capitalization of $15,266.58, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.36 and a beta of 0.38.
Ameren Corporation (NYSE:AEE) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.87 billion. Ameren Corporation had a net margin of 10.03% and a return on equity of 8.61%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. sell-side analysts expect that Ameren Corporation will post 2.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, December 13th will be issued a $0.4575 dividend. This represents a $1.83 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, December 12th. This is an increase from Ameren Corporation’s previous quarterly dividend of $0.44. Ameren Corporation’s dividend payout ratio is presently 69.84%.
In other news, SVP Gregory L. Nelson sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $62.68, for a total value of $752,160.00. Following the completion of the sale, the senior vice president now owns 36,785 shares of the company’s stock, valued at approximately $2,305,683.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.
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About Ameren Corporation
Ameren Corporation is a utility holding company. The Company’s subsidiaries include Ameren Missouri, Ameren Illinois and Ameren Transmission Company (ATXI). It operates through four segments. The Ameren Missouri segment includes all of the operations of Ameren Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois.
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