First Citizens Bank & Trust Co. Boosts Holdings in Ameren Corporation $AEE

Key Points

• First Citizens Bank & Trust Co. increased its stake in Ameren Corporation by 34.2%, acquiring a total of 69,276 shares worth approximately $6.65 million at quarter's end.
• A number of analysts have issued upgrades for Ameren, with KeyCorp raising its price target from $104 to $109, while Goldman Sachs upgraded the stock from "sell" to "neutral" with a price objective of $100.
• Ameren recently announced a quarterly dividend of $0.71 per share, set to be paid on December 31, representing an annual yield of 2.7%.

First Citizens Bank & Trust Co. boosted its position in shares of Ameren Corporation (NYSE:AEE - Free Report) by 34.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 69,276 shares of the utilities provider's stock after purchasing an additional 17,642 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Ameren were worth $6,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Ameren by 19.7% in the 1st quarter. GAMMA Investing LLC now owns 7,986 shares of the utilities provider's stock worth $802,000 after buying an additional 1,312 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ameren by 6.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,926 shares of the utilities provider's stock worth $1,699,000 after buying an additional 963 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Ameren by 95.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,663 shares of the utilities provider's stock valued at $1,673,000 after acquiring an additional 8,119 shares during the period. Retirement Systems of Alabama grew its stake in shares of Ameren by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 57,999 shares of the utilities provider's stock valued at $5,823,000 after purchasing an additional 206 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Ameren by 20.9% in the first quarter. Oppenheimer & Co. Inc. now owns 6,338 shares of the utilities provider's stock worth $636,000 after buying an additional 1,096 shares during the last quarter. 79.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on AEE shares. KeyCorp upped their price target on Ameren from $104.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. The Goldman Sachs Group raised shares of Ameren from a "sell" rating to a "neutral" rating and increased their price objective for the company from $91.00 to $100.00 in a report on Wednesday, June 25th. Barclays set a $113.00 price objective on shares of Ameren in a report on Tuesday. UBS Group boosted their target price on Ameren from $111.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Ameren in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $108.63.

Ameren Stock Performance

Shares of Ameren stock opened at $105.88 on Thursday. The firm has a market capitalization of $28.63 billion, a P/E ratio of 23.27, a PEG ratio of 2.64 and a beta of 0.49. Ameren Corporation has a 52 week low of $85.27 and a 52 week high of $106.73. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average price of $101.77 and a 200 day moving average price of $98.96.

Ameren (NYSE:AEE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Ameren had a net margin of 14.55% and a return on equity of 10.38%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business posted $0.97 EPS. Ameren's revenue for the quarter was up 31.2% compared to the same quarter last year. Ameren has set its FY 2025 guidance at 4.850-5.050 EPS. Sell-side analysts expect that Ameren Corporation will post 4.93 EPS for the current year.

Ameren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 9th will be paid a $0.71 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. Ameren's dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling at Ameren

In other news, SVP Gwendolyn G. Mizell sold 1,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $101.79, for a total value of $101,790.00. Following the completion of the transaction, the senior vice president directly owned 9,129 shares in the company, valued at $929,240.91. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.42% of the company's stock.

Ameren Profile

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.

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