Martingale Asset Management L P Sells 7,325 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Martingale Asset Management L P reduced its stake in American Electric Power by 3.8% during the 1st quarter, now holding 185,210 shares valued at approximately $20.2 million.
• AEP reported quarterly earnings of $1.43 EPS, exceeding expectations, with a revenue of $5.09 billion, reflecting an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.93 per share, resulting in an annualized yield of 3.3%, with a payout ratio of 54.39%.

Martingale Asset Management L P trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,210 shares of the company's stock after selling 7,325 shares during the quarter. Martingale Asset Management L P's holdings in American Electric Power were worth $20,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 worth $5,711,519,000 after acquiring an additional 579,175 shares in the last quarter. Wellington Management Group LLP lifted its stake in American Electric Power by 24.3% in the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock valued at $2,415,144,000 after buying an additional 4,323,569 shares during the period. GQG Partners LLC lifted its stake in American Electric Power by 30.4% in the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the period. Royal Bank of Canada boosted its holdings in shares of 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 worth $649,983,000 after buying an additional 85,756 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of 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 worth $591,791,000 after buying an additional 2,165,888 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research reports. Scotiabank boosted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Barclays increased their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group increased their price target on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $111.29.

Insider Activity at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value 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. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 24,173 shares of company stock valued at $2,467,015. Insiders own 0.07% of the company's stock.

American Electric Power Stock Down 0.8%

American Electric Power stock traded down $0.9280 during trading on Monday, hitting $113.0920. 1,313,366 shares of the company were exchanged, compared to its average volume of 3,548,435. The company has a market capitalization of $60.48 billion, a P/E ratio of 16.53, a PEG ratio of 3.03 and a beta of 0.40. The business's 50 day moving average is $107.77 and its 200 day moving average is $105.57. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted 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. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

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

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.