American Electric Power Company, Inc. $AEP Position Lessened by Legal & General Group Plc

Key Points

• Legal & General Group Plc reduced its AEP stake by 3.1% in the fourth quarter, selling 160,747 shares and ending with 4,968,721 shares valued at about $572.9 million.
• Insider selling also occurred: EVP Phillip R. Ulrich sold 4,106 shares at an average price of $132.08, trimming his position by 8.86%.
• American Electric Power posted solid results and maintained income appeal, beating quarterly EPS and revenue estimates, while declaring a $0.95 quarterly dividend that implies a 2.9% yield.

Legal & General Group Plc decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,968,721 shares of the company's stock after selling 160,747 shares during the period. Legal & General Group Plc owned 0.93% of American Electric Power worth $572,942,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management lifted its holdings in shares of American Electric Power by 72.2% in the 4th quarter. Activest Wealth Management now owns 217 shares of the company's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of American Electric Power by 330.2% in the 3rd quarter. Dogwood Wealth Management LLC now owns 228 shares of the company's stock worth $26,000 after purchasing an additional 175 shares during the last quarter. Optima Capital LLC bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its holdings in shares of American Electric Power by 7,300.0% in the 4th quarter. Rakuten Securities Inc. now owns 222 shares of the company's stock worth $26,000 after purchasing an additional 219 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of American Electric Power by 200.0% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company's stock worth $27,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

Insider Activity

In other news, EVP Phillip R. Ulrich sold 4,106 shares of American Electric Power stock in a transaction on Friday, February 27th. The stock was sold at an average price of $132.08, for a total transaction of $542,320.48. Following the transaction, the executive vice president directly owned 42,263 shares in the company, valued at approximately $5,582,097.04. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on American Electric Power from $141.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. cut their target price on American Electric Power from $141.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, May 15th. UBS Group lifted their target price on American Electric Power from $132.00 to $135.00 in a research note on Monday, March 9th. BMO Capital Markets cut their target price on American Electric Power from $141.00 to $138.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 22nd. Finally, Truist Financial assumed coverage on American Electric Power in a research note on Tuesday, April 21st. They set a "buy" rating and a $148.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.24.

American Electric Power Price Performance

Shares of AEP stock opened at $131.59 on Tuesday. American Electric Power Company, Inc. has a 1 year low of $100.72 and a 1 year high of $139.44. The stock has a market cap of $71.60 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.62 and a beta of 0.56. The business's fifty day moving average is $131.98 and its 200-day moving average is $125.09. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.53.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.07. American Electric Power had a return on equity of 10.21% and a net margin of 16.29%.The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same period last year, the firm earned $1.54 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Equities analysts expect that American Electric Power Company, Inc. will post 6.35 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, May 8th. This represents a $3.80 annualized dividend and a dividend yield of 2.9%. American Electric Power's dividend payout ratio (DPR) is 55.80%.

About American Electric Power

American Electric Power NASDAQ: AEP is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.

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