Korea Investment CORP boosted its position in shares of Ameren Corp (NYSE:AEE) by 53.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 140,501 shares of the utilities provider’s stock after acquiring an additional 48,880 shares during the quarter. Korea Investment CORP’s holdings in Ameren were worth $8,882,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its position in Ameren by 6.0% during the 3rd 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 period. Bank of Montreal Can lifted its position in Ameren by 7.8% during the 3rd 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 period. Wells Fargo & Company MN lifted its position in Ameren by 1.1% during the 3rd 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 period. Renaissance Technologies LLC lifted its position in Ameren by 7.4% during the 2nd 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 period. Finally, FMR LLC lifted its holdings in shares of Ameren by 285.1% in the 3rd quarter. FMR LLC now owns 3,720,483 shares of the utilities provider’s stock valued at $235,209,000 after buying an additional 2,754,278 shares during the period. 73.93% of the stock is owned by institutional investors.
Shares of AEE stock opened at $68.62 on Friday. The stock has a market capitalization of $16.76 billion, a PE ratio of 19.72, a P/E/G ratio of 2.99 and a beta of 0.15. The company has a quick ratio of 0.43, a current ratio of 0.64 and a debt-to-equity ratio of 0.98. Ameren Corp has a 52-week low of $51.89 and a 52-week high of $70.68.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Wednesday, December 12th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Tuesday, December 11th. This is a positive change from Ameren’s previous quarterly dividend of $0.46. Ameren’s payout ratio is currently 64.66%.
In related news, insider Michael L. Moehn sold 8,000 shares of Ameren stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $69.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now owns 80,567 shares in the company, valued at approximately $5,559,123. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gregory L. Nelson sold 10,000 shares of Ameren stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $69.00, for a total value of $690,000.00. Following the completion of the transaction, the senior vice president now owns 46,095 shares of the company’s stock, valued at approximately $3,180,555. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
AEE has been the subject of several analyst reports. Wells Fargo & Co boosted their price objective on Ameren from $67.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, September 17th. SunTrust Banks initiated coverage on Ameren in a report on Wednesday, September 26th. They issued a “hold” rating and a $64.00 price objective for the company. Morgan Stanley boosted their price objective on Ameren from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, September 11th. Barclays set a $67.00 price objective on Ameren and gave the company a “hold” rating in a report on Saturday, November 17th. Finally, Wolfe Research cut Ameren from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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