Great Lakes Advisors LLC Sells 22,616 Shares of The AES Co. (NYSE:AES)

Great Lakes Advisors LLC lowered its stake in The AES Co. (NYSE:AESFree Report) by 46.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,608 shares of the utilities provider’s stock after selling 22,616 shares during the quarter. Great Lakes Advisors LLC’s holdings in AES were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AES. Cambridge Investment Research Advisors Inc. raised its position in AES by 12.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,262 shares of the utilities provider’s stock worth $1,319,000 after acquiring an additional 5,594 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in AES by 9.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 91,659 shares of the utilities provider’s stock worth $2,358,000 after acquiring an additional 7,975 shares during the period. Great West Life Assurance Co. Can raised its position in AES by 1.2% in the first quarter. Great West Life Assurance Co. Can now owns 309,233 shares of the utilities provider’s stock worth $8,291,000 after acquiring an additional 3,755 shares during the period. Yousif Capital Management LLC raised its position in AES by 2.1% in the first quarter. Yousif Capital Management LLC now owns 110,543 shares of the utilities provider’s stock worth $2,844,000 after acquiring an additional 2,285 shares during the period. Finally, Cibc World Market Inc. raised its position in AES by 24.2% in the first quarter. Cibc World Market Inc. now owns 22,300 shares of the utilities provider’s stock worth $574,000 after acquiring an additional 4,351 shares during the period. Hedge funds and other institutional investors own 94.49% of the company’s stock.

AES Stock Performance

Shares of NYSE:AES opened at $16.50 on Wednesday. The AES Co. has a 52 week low of $11.43 and a 52 week high of $26.77. The stock has a market capitalization of $11.05 billion, a P/E ratio of -18.75, a PEG ratio of 0.86 and a beta of 1.10. The firm has a fifty day simple moving average of $18.15 and a two-hundred day simple moving average of $17.30. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a $0.1725 dividend. This is a boost from AES’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Wednesday, January 31st. AES’s dividend payout ratio (DPR) is presently -78.41%.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on AES

Insiders Place Their Bets

In other news, COO Ricardo Manuel Falu purchased 2,450 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $16.30 per share, with a total value of $39,935.00. Following the purchase, the chief operating officer now owns 61,981 shares in the company, valued at $1,010,290.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AES news, EVP Tish Mendoza sold 21,594 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $18.95, for a total value of $409,206.30. Following the transaction, the executive vice president now directly owns 167,261 shares in the company, valued at approximately $3,169,595.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ricardo Manuel Falu bought 2,450 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $16.30 per share, for a total transaction of $39,935.00. Following the completion of the purchase, the chief operating officer now directly owns 61,981 shares in the company, valued at $1,010,290.30. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.

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.

Further Reading

Institutional Ownership by Quarter for AES (NYSE:AES)

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