Assenagon Asset Management S.A. Increases Position in Ameren Co. (NYSE:AEE)

Posted by Defense World Staff on Mar 22nd, 2023

Assenagon Asset Management S.A. lifted its position in Ameren Co. (NYSE:AEE – Get Rating) by 6,586.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,488 shares of the utilities provider’s stock after purchasing an additional 335,396 shares during the period. Assenagon Asset Management S.A. owned about 0.13% of Ameren worth $30,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEE. Capital Investment Advisors LLC lifted its holdings in shares of Ameren by 3.8% in the 4th quarter. Capital Investment Advisors LLC now owns 3,211 shares of the utilities provider’s stock worth $285,000 after acquiring an additional 117 shares during the last quarter. Assetmark Inc. increased its stake in Ameren by 4.1% in the 3rd quarter. Assetmark Inc. now owns 3,155 shares of the utilities provider’s stock worth $254,000 after buying an additional 125 shares during the period. Checchi Capital Advisers LLC increased its stake in Ameren by 5.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 2,864 shares of the utilities provider’s stock worth $231,000 after buying an additional 151 shares during the period. Resources Investment Advisors LLC. increased its stake in Ameren by 4.3% in the 3rd quarter. Resources Investment Advisors LLC. now owns 4,066 shares of the utilities provider’s stock worth $327,000 after buying an additional 168 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Ameren by 2.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,969 shares of the utilities provider’s stock worth $653,000 after buying an additional 172 shares during the period. 78.42% of the stock is owned by hedge funds and other institutional investors.

Ameren Stock Down 2.6 %

NYSE:AEE opened at $83.74 on Wednesday. Ameren Co. has a fifty-two week low of $73.28 and a fifty-two week high of $99.20. The stock has a market capitalization of $21.94 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.85 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.59 and a current ratio of 0.79. The company’s 50-day simple moving average is $85.60 and its 200-day simple moving average is $85.80.

Ameren (NYSE:AEE – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Ameren had a net margin of 13.50% and a return on equity of 10.50%. The company’s revenue was up 32.4% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. On average, equities analysts anticipate that Ameren Co. will post 4.35 earnings per share for the current fiscal year.

Ameren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, March 14th. This is a boost from Ameren’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. Ameren’s dividend payout ratio (DPR) is 60.87%.

Insider Buying and Selling

In related news, SVP Fadi M. Diya sold 5,000 shares of Ameren stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $84.41, for a total value of $422,050.00. Following the completion of the sale, the senior vice president now directly owns 94,533 shares in the company, valued at approximately $7,979,530.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rafael Flores sold 1,900 shares of Ameren stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $86.15, for a total value of $163,685.00. Following the completion of the sale, the director now directly owns 14,172 shares in the company, valued at approximately $1,220,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Fadi M. Diya sold 5,000 shares of Ameren stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $84.41, for a total transaction of $422,050.00. Following the sale, the senior vice president now owns 94,533 shares of the company’s stock, valued at $7,979,530.53. The disclosure for this sale can be found here. Insiders sold 63,509 shares of company stock worth $5,221,792 in the last three months. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AEE shares. Wells Fargo & Company reduced their price target on shares of Ameren from $101.00 to $97.00 and set an “overweight” rating on the stock in a research note on Friday, February 17th. StockNews.com started coverage on shares of Ameren in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Guggenheim downgraded shares of Ameren from a “buy” rating to a “neutral” rating and raised their target price for the company from $84.00 to $89.00 in a research report on Monday, January 23rd. Finally, Morgan Stanley cut their target price on shares of Ameren from $89.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ameren has a consensus rating of “Hold” and an average price target of $94.40.

Ameren Company Profile

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Ameren Corp. is a public utility holding company, which engages in the provision of electric and natural gas services. It operates through the following segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, Ameren Transmission, and Other. The Ameren Transmission segment consists of the aggregated electric transmission businesses of Ameren Illinois and Ameren Transmission Company of Illinois (ATXI).