PNC Financial Services Group Inc. Has $5.05 Million Holdings in Ameren Co. (NYSE:AEE)

PNC Financial Services Group Inc. raised its stake in shares of Ameren Co. (NYSE:AEE) by 14.1% in the third quarter, according to its most recent 13F 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 institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in Ameren by 115.3% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Ameren during the second quarter worth about $26,000. Pathway Financial Advisers LLC bought a new stake in Ameren in the 1st quarter worth about $31,000. EntryPoint Capital LLC increased 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 buying an additional 226 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Ameren by 227.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider’s stock worth $34,000 after buying an additional 316 shares during the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEE. Bank of America lifted their price target on Ameren from $86.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley decreased their price objective on shares of Ameren from $88.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday. Argus upgraded shares of Ameren to a “strong-buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company lifted their price target on shares of Ameren from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, BMO Capital Markets increased their price objective on Ameren from $84.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.90.

Ameren Price Performance

Ameren stock opened at $93.81 on Friday. The business has a 50-day simple moving average of $88.03 and a 200 day simple moving average of $80.29. Ameren Co. has a 52 week low of $67.03 and a 52 week high of $94.46. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.09 and a beta of 0.45. The company has a quick ratio of 0.41, a current ratio of 0.63 and a debt-to-equity ratio of 1.37.

Ameren Dividend Announcement

The business 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. The ex-dividend date is Wednesday, December 11th. This represents a $2.68 dividend on an annualized basis and a yield of 2.86%. Ameren’s dividend payout ratio is presently 63.06%.

Insider Activity

In related news, EVP Chonda J. Nwamu sold 1,610 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $81.94, for a total transaction of $131,923.40. Following the transaction, the executive vice president now directly owns 44,432 shares of the company’s stock, valued at approximately $3,640,758.08. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael L. Moehn sold 6,500 shares of the business’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 completion of the sale, the chief financial officer now owns 205,171 shares of the company’s stock, valued at $18,906,507.65. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Ameren Company 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.