American Electric Power Company, Inc. $AEP Shares Sold by AlTi Global Inc.

Key Points

• AlTi Global Inc. reduced its holdings in American Electric Power by 34%, selling 27,608 shares during the first quarter, leaving it with approximately $5.85 million in shares.
• American Electric Power announced a quarterly dividend of $0.93 per share, yielding 3.4%, with the ex-dividend date set for August 8th.
• Various analysts have upgraded their price targets for American Electric Power, with a consensus target price now at $111.29, and multiple analysts rating the stock as a Hold.

AlTi Global Inc. lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,530 shares of the company's stock after selling 27,608 shares during the period. AlTi Global Inc.'s holdings in American Electric Power were worth $5,849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of American Electric Power by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock worth $5,711,519,000 after purchasing an additional 579,175 shares during the last quarter. Wellington Management Group LLP grew its stake in American Electric Power by 24.3% during 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 grew its stake in American Electric Power by 30.4% during 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 grew its stake in American Electric Power by 1.2% during 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 grew its stake in American Electric Power by 51.0% during 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. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AEP. Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Barclays upped their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. UBS Group upped their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. Scotiabank upped their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $111.29.

American Electric Power Stock Down 0.5%

American Electric Power stock traded down $0.53 during mid-day trading on Friday, reaching $108.11. 3,664,308 shares of the company's stock were exchanged, compared to its average volume of 2,873,246. The company has a market cap of $57.82 billion, a P/E ratio of 15.81, a P/E/G ratio of 2.88 and a beta of 0.46. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average of $109.55 and a 200-day moving average of $106.16.

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

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. American Electric Power's dividend payout ratio is 54.39%.

American Electric Power Company Profile

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.