Russell Investments Group Ltd. Trims Position in Ameren Corporation (AEE)
Russell Investments Group Ltd. cut its stake in Ameren Corporation (NYSE:AEE) by 26.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,605 shares of the utilities provider’s stock after selling 141,994 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Ameren worth $23,329,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. acquired a new position in Ameren in the second quarter valued at $111,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Ameren in the third quarter valued at $116,000. Cable Hill Partners LLC increased its stake in Ameren by 400.2% in the third quarter. Cable Hill Partners LLC now owns 2,031 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 1,625 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Ameren by 2.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,408 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 56 shares during the period. Finally, Seizert Capital Partners LLC acquired a new position in Ameren in the third quarter valued at $201,000. 70.52% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Gregory L. Nelson sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $62.68, for a total transaction of $752,160.00. Following the transaction, the senior vice president now directly owns 36,785 shares in the company, valued at $2,305,683.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
Ameren Corporation (NYSE:AEE) opened at $62.98 on Friday. Ameren Corporation has a one year low of $48.32 and a one year high of $64.89. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 0.92. The stock has a market cap of $15,281.15, a PE ratio of 24.41, a PEG ratio of 3.36 and a beta of 0.38.
Ameren (NYSE:AEE) last issued its quarterly earnings results on Friday, November 3rd. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). Ameren had a return on equity of 8.61% and a net margin of 10.03%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue was down 7.3% compared to the same quarter last year. research analysts predict that Ameren Corporation will post 2.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, December 13th will be paid a dividend of $0.4575 per share. This represents a $1.83 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Ameren’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, December 12th. Ameren’s payout ratio is 69.84%.
AEE has been the topic of a number of recent research reports. Bank of America Corporation initiated coverage on shares of Ameren in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $62.00 price objective on the stock. Zacks Investment Research lowered shares of Ameren from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Morgan Stanley restated an “equal weight” rating on shares of Ameren in a research note on Friday, September 8th. KeyCorp restated a “hold” rating on shares of Ameren in a research note on Friday, October 20th. Finally, BidaskClub upgraded shares of Ameren from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $56.00.
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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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