1832 Asset Management L.P. Has $2.06 Million Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• 1832 Asset Management L.P. decreased its holdings in American Electric Power by 24.5%, now owning 18,830 shares worth approximately $2.06 million.
• Other institutional investors have also adjusted their positions, with significant increases in holdings by Kovitz Investment Group and Brighton Jones LLC.
• American Electric Power recently reported a quarterly EPS of $1.43, exceeding expectations, and has announced a quarterly dividend of $0.93 per share.

1832 Asset Management L.P. reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,830 shares of the company's stock after selling 6,105 shares during the period. 1832 Asset Management L.P.'s holdings in American Electric Power were worth $2,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of American Electric Power by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock valued at $5,711,519,000 after acquiring an additional 579,175 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock valued at $2,415,144,000 after acquiring an additional 4,323,569 shares in the last quarter. GQG Partners LLC raised its stake in shares of American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares in the last quarter. Royal Bank of Canada raised its stake in shares of American Electric Power by 1.2% in the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after acquiring an additional 85,756 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after acquiring an additional 2,165,888 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of AEP stock traded down $1.11 during mid-day trading on Thursday, reaching $111.78. The stock had a trading volume of 3,697,314 shares, compared to its average volume of 3,371,490. The firm's 50 day simple moving average is $108.66 and its 200 day simple moving average is $105.83. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36. The firm has a market cap of $59.78 billion, a PE ratio of 16.34, a P/E/G ratio of 2.99 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $1.25 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 24,173 shares of company stock worth $2,467,015. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. Guggenheim raised their price objective on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Citigroup raised their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Barclays raised their target price on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Scotiabank raised their target price on American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $111.29.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.