Assenagon Asset Management S.A. Sells 111,839 Shares of The AES Co. (NYSE:AES)

Assenagon Asset Management S.A. cut its stake in shares of The AES Co. (NYSE:AESFree Report) by 29.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,137 shares of the utilities provider’s stock after selling 111,839 shares during the period. Assenagon Asset Management S.A.’s holdings in AES were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. purchased a new stake in AES during the fourth quarter valued at approximately $27,000. Gyon Technologies Capital Management LP purchased a new stake in AES during the fourth quarter valued at approximately $32,000. Resurgent Financial Advisors LLC purchased a new stake in AES during the fourth quarter valued at approximately $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in AES by 5,681.8% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,272 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,250 shares during the period. Finally, Stonebridge Capital Advisors LLC raised its holdings in shares of AES by 3,172.5% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,309 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,269 shares during the period. 94.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AES shares. StockNews.com upgraded AES to a “sell” rating in a report on Friday, November 3rd. Bank of America reduced their price target on AES from $23.00 to $15.00 in a report on Thursday, October 12th. Barclays increased their price target on AES from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Morgan Stanley reduced their price target on AES from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Finally, TheStreet downgraded AES from a “c-” rating to a “d+” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.33.

Get Our Latest Stock Report on AES

AES Trading Down 0.7 %

AES opened at $16.68 on Thursday. The stock’s fifty day moving average is $18.16 and its two-hundred day moving average is $17.47. The company has a market capitalization of $11.17 billion, a P/E ratio of -18.95, a PEG ratio of 0.87 and a beta of 1.13. The AES Co. has a 52 week low of $11.43 and a 52 week high of $27.42. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 5.35.

AES (NYSE:AESGet Free Report) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.65 billion. AES had a positive return on equity of 37.75% and a negative net margin of 4.23%. Analysts forecast that The AES Co. will post 1.72 earnings per share for the current year.

AES Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.14%. The ex-dividend date is Wednesday, January 31st. This is a boost from AES’s previous quarterly dividend of $0.17. AES’s dividend payout ratio (DPR) is -75.00%.

Insider Buying and Selling at AES

In other AES news, EVP Paul L. Freedman acquired 1,530 shares of the stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average price of $16.40 per share, with a total value of $25,092.00. Following the transaction, the executive vice president now directly owns 73,798 shares of the company’s stock, valued at $1,210,287.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andres Gluski bought 50,000 shares of AES stock in a transaction that occurred on Tuesday, November 7th. The stock was bought at an average price of $16.38 per share, for a total transaction of $819,000.00. Following the purchase, the chief executive officer now directly owns 1,526,449 shares of the company’s stock, valued at approximately $25,003,234.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul L. Freedman bought 1,530 shares of AES stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average price of $16.40 per share, with a total value of $25,092.00. Following the purchase, the executive vice president now directly owns 73,798 shares in the company, valued at $1,210,287.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 57,039 shares of company stock valued at $934,195. 0.01% of the stock is currently owned by corporate insiders.

AES Company Profile

(Free Report)

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.

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Institutional Ownership by Quarter for AES (NYSE:AES)

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