The Manufacturers Life Insurance Company Trims Stake in Ameren Corporation $AEE

Key Points

• The Manufacturers Life Insurance Company decreased its stake in Ameren Corporation by 9.8%, now holding $55.42 million worth of shares after selling 59,875 during the first quarter.
• Several analysts have given Ameren an "overweight" rating with varying target prices, with the average target price set at $102.80.
• Ameren recently declared a quarterly dividend of $0.71, representing an annualized dividend yield of 2.8% with a payout ratio of 62.42%.

The Manufacturers Life Insurance Company lowered its position in Ameren Corporation (NYSE:AEE - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 552,036 shares of the utilities provider's stock after selling 59,875 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.20% of Ameren worth $55,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Magnetar Financial LLC purchased a new stake in shares of Ameren in the first quarter valued at about $3,521,000. Trexquant Investment LP purchased a new stake in shares of Ameren in the first quarter valued at about $6,582,000. Beck Bode LLC grew its holdings in shares of Ameren by 2,004.9% in the first quarter. Beck Bode LLC now owns 179,931 shares of the utilities provider's stock valued at $18,065,000 after purchasing an additional 171,383 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Ameren in the first quarter valued at about $50,693,000. Finally, Comerica Bank lifted its position in Ameren by 12.2% in the first quarter. Comerica Bank now owns 72,272 shares of the utilities provider's stock valued at $7,256,000 after buying an additional 7,866 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company's stock.

Ameren Stock Up 0.8%

Shares of AEE traded up $0.75 during midday trading on Thursday, hitting $100.67. The company had a trading volume of 857,155 shares, compared to its average volume of 1,697,267. The company's 50-day simple moving average is $99.20 and its 200-day simple moving average is $98.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.56 and a current ratio of 0.80. The firm has a market capitalization of $27.22 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.56 and a beta of 0.47. Ameren Corporation has a 1 year low of $82.79 and a 1 year high of $104.10.

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

Ameren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 9th. Ameren's dividend payout ratio (DPR) is presently 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 transaction of $101,790.00. Following the sale, the senior vice president owned 9,129 shares of the company's stock, valued at approximately $929,240.91. This trade represents a 9.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AEE shares. Wells Fargo & Company increased their target price on shares of Ameren from $108.00 to $112.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group raised shares of Ameren from a "sell" rating to a "neutral" rating and increased their target price for the stock from $91.00 to $100.00 in a research note on Wednesday, June 25th. Barclays lowered their target price on shares of Ameren from $104.00 to $100.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Morgan Stanley reaffirmed an "outperform" rating on shares of Ameren in a research note on Thursday, August 21st. Finally, KeyCorp set a $104.00 price target on shares of Ameren and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $102.80.

About Ameren

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.