Corebridge Financial Inc. Has $5.63 Million Stake in Ameren Co. (NYSE:AEE)

Corebridge Financial Inc. lowered its stake in shares of Ameren Co. (NYSE:AEE) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 63,198 shares of the utilities provider’s stock after selling 3,044 shares during the period. Corebridge Financial Inc.’s holdings in Ameren were worth $5,633,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. TD Private Client Wealth LLC increased its stake in Ameren by 7.1% during the fourth quarter. TD Private Client Wealth LLC now owns 1,846 shares of the utilities provider’s stock valued at $165,000 after acquiring an additional 122 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Ameren by 2.7% during the 4th quarter. CWA Asset Management Group LLC now owns 4,786 shares of the utilities provider’s stock worth $427,000 after purchasing an additional 125 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Ameren by 2.0% during the 4th quarter. Signaturefd LLC now owns 6,276 shares of the utilities provider’s stock worth $559,000 after purchasing an additional 125 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Ameren by 16.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 980 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 137 shares during the period. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Ameren by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 9,110 shares of the utilities provider’s stock valued at $797,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 79.09% of the company’s stock.

Ameren Trading Up 1.1 %

AEE stock opened at $99.71 on Friday. The business has a fifty day moving average price of $97.64 and a 200 day moving average price of $92.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.66 and a quick ratio of 0.44. Ameren Co. has a fifty-two week low of $69.39 and a fifty-two week high of $104.10. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.97 and a beta of 0.48.

Ameren (NYSE:AEE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). Ameren had a net margin of 15.51% and a return on equity of 10.34%. During the same period last year, the business earned $0.60 earnings per share. Analysts expect that Ameren Co. will post 4.93 EPS for the current fiscal year.

Ameren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 11th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Ameren’s previous quarterly dividend of $0.67. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.85%. Ameren’s payout ratio is currently 64.25%.

Insider Transactions at Ameren

In related news, Director Craig S. Ivey sold 2,716 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $98.27, for a total value of $266,901.32. Following the completion of the transaction, the director now owns 14,495 shares in the company, valued at $1,424,423.65. The trade was a 15.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shawn E. Schukar sold 4,743 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $103.79, for a total value of $492,275.97. Following the completion of the transaction, the insider now owns 57,486 shares in the company, valued at $5,966,471.94. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,959 shares of company stock worth $1,316,712. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AEE shares. UBS Group lifted their price target on shares of Ameren from $106.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Morgan Stanley upped their target price on shares of Ameren from $97.00 to $101.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Barclays raised their price target on shares of Ameren from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Evercore ISI upgraded Ameren from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $89.00 to $104.00 in a research note on Tuesday, January 21st. Finally, BMO Capital Markets increased their target price on Ameren from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameren presently has a consensus rating of “Moderate Buy” and an average target price of $96.70.

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.