PNC Financial Services Group Inc. Acquires 7,112 Shares of Ameren Co. (NYSE:AEE)

PNC Financial Services Group Inc. grew its holdings in Ameren Co. (NYSE:AEE) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,721 shares of the utilities provider’s stock after purchasing an additional 7,112 shares during the period. PNC Financial Services Group Inc.’s holdings in Ameren were worth $5,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AEE. Versant Capital Management Inc grew its position in Ameren by 115.3% in the second quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 196 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Ameren during the 2nd quarter valued at approximately $26,000. Pathway Financial Advisers LLC acquired a new position in Ameren during the 1st quarter worth approximately $31,000. EntryPoint Capital LLC lifted its stake in Ameren by 108.1% in the 1st quarter. EntryPoint Capital LLC now owns 435 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 226 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Ameren by 227.3% in the first quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider’s stock valued at $34,000 after buying an additional 316 shares in the last quarter. Institutional investors own 79.09% of the company’s stock.

Ameren Stock Performance

Shares of Ameren stock opened at $93.81 on Friday. The company has a market cap of $25.04 billion, a P/E ratio of 22.07, a PEG ratio of 3.09 and a beta of 0.45. The company has a current ratio of 0.63, a quick ratio of 0.41 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $88.03 and a two-hundred day moving average price of $80.29. Ameren Co. has a 1-year low of $67.03 and a 1-year high of $94.46.

Ameren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, December 11th. Ameren’s dividend payout ratio (DPR) is presently 63.06%.

Insiders Place Their Bets

In other news, EVP Chonda J. Nwamu sold 1,610 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $81.94, for a total transaction of $131,923.40. Following the transaction, the executive vice president now owns 44,432 shares of the company’s stock, valued at $3,640,758.08. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael L. Moehn sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.15, for a total value of $598,975.00. Following the transaction, the chief financial officer now directly owns 205,171 shares in the company, valued at approximately $18,906,507.65. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEE. BMO Capital Markets increased their price target on Ameren from $84.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Jefferies Financial Group began coverage on Ameren in a research note on Thursday, September 19th. They set a “buy” rating and a $97.00 price target on the stock. Bank of America upped their price objective on Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Argus upgraded shares of Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley decreased their price target on shares of Ameren from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.90.

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.