American Electric Power Company, Inc. $AEP Shares Purchased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in American Electric Power by 6.9% in Q2, now holding 36,935 shares valued at $3.83 million.
• Several hedge funds, including Vanguard Group and Wellington Management, have also increased their positions, contributing to institutional investors owning 75.24% of the company’s stock.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, reflecting an annualized dividend of $3.72 and a dividend yield of 3.2%.

Concurrent Investment Advisors LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,935 shares of the company's stock after purchasing an additional 2,396 shares during the period. Concurrent Investment Advisors LLC's holdings in American Electric Power were worth $3,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 valued at $5,711,519,000 after acquiring an additional 579,175 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 during the period. GQG Partners LLC lifted its position in shares of 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 during the period. Northern Trust Corp lifted its position in shares of American Electric Power by 8.0% during the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company's stock valued at $572,332,000 after acquiring an additional 386,518 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at approximately $568,042,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the completion of the sale, the director directly owned 40,898 shares of the company's stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company's stock, valued at $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AEP. Morgan Stanley reduced their price target on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a research report on Wednesday, October 8th. Raymond James Financial reissued an "outperform" rating and set a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Evercore ISI started coverage on American Electric Power in a research report on Monday, October 6th. They set an "outperform" rating and a $133.00 price objective for the company. Finally, UBS Group lifted their price objective on American Electric Power from $110.00 to $116.00 and gave the stock a "sell" rating in a research report on Friday. Seven equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $114.50.

American Electric Power Stock Down 0.2%

AEP stock opened at $116.80 on Tuesday. The stock has a market capitalization of $62.46 billion, a P/E ratio of 17.08, a PEG ratio of 3.09 and a beta of 0.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $119.06. The company has a 50 day moving average price of $111.48 and a two-hundred day moving average price of $107.23.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the previous year, the company earned $1.25 EPS. American Electric Power's revenue for the quarter 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. As a group, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. American Electric Power's payout ratio is currently 54.39%.

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.

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