American Electric Power Company, Inc. $AEP Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its holdings in American Electric Power by 4.1%, owning a total of 185,534 shares valued at approximately $19.25 million.
• American Electric Power reported better-than-expected earnings for the quarter, with earnings per share of $1.43, surpassing analysts' estimates of $1.27.
• The company declared a quarterly dividend of $0.93, resulting in an annualized dividend yield of 3.3%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,534 shares of the company's stock after purchasing an additional 7,340 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in American Electric Power were worth $19,251,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC boosted its position in shares of American Electric Power by 14.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of American Electric Power in the 1st quarter worth $262,000. Venture Visionary Partners LLC boosted its position in shares of American Electric Power by 7.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company's stock worth $7,080,000 after purchasing an additional 4,616 shares in the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of American Electric Power in the 1st quarter worth $205,000. Finally, GAMMA Investing LLC boosted its position in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after purchasing an additional 3,867 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Performance

NASDAQ AEP opened at $114.06 on Friday. The stock has a 50-day simple moving average of $110.87 and a two-hundred day simple moving average of $106.70. The firm has a market capitalization of $61.00 billion, a P/E ratio of 16.68, a PEG ratio of 3.02 and a beta of 0.48. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $115.36. 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 (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The company's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Insider Activity

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

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research reports. UBS Group lifted their price target on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Morgan Stanley lowered their price target on 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. Mizuho lowered their price target on American Electric Power from $116.00 to $113.00 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Scotiabank lifted their price target on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $111.63.

American Electric Power 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.

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