American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. sold 5,210 shares of American Electric Power, reducing its position by 13.7% in the 1st quarter, bringing its holdings to 32,925 shares valued at approximately $3.6 million.
• American Electric Power's stock is currently showing a 0.2% increase and has a market capitalization of $60.82 billion, with a 52-week trading range from $89.91 to $115.36.
• The company announced a quarterly dividend of $0.93 per share, translating to an annualized yield of 3.3%, with the ex-dividend date set for August 8th.

Atria Wealth Solutions Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,925 shares of the company's stock after selling 5,210 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in American Electric Power were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in American Electric Power by 1.2% in the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after buying an additional 85,756 shares during the period. Lazard Asset Management LLC raised its holdings in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after buying an additional 2,165,888 shares during the period. Bank of America Corp DE raised its holdings in American Electric Power by 27.5% in the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after buying an additional 1,105,317 shares during the period. Northern Trust Corp raised its holdings in American Electric Power by 6.0% in the 4th quarter. Northern Trust Corp now owns 4,851,264 shares of the company's stock valued at $447,432,000 after buying an additional 272,997 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in American Electric Power by 4.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,827,986 shares of the company's stock valued at $523,209,000 after buying an additional 183,637 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AEP. BMO Capital Markets boosted their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. UBS Group boosted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Scotiabank boosted 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 report on Thursday, July 31st. Guggenheim boosted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling

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 value of $819,820.92. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 over the last 90 days. Insiders own 0.07% of the company's stock.

American Electric Power Stock Up 0.2%

AEP stock opened at $113.73 on Friday. The company's 50 day moving average price is $105.52 and its 200 day moving average price is $104.43. 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 fifty-two week low of $89.91 and a fifty-two week high of $115.36. The firm has a market capitalization of $60.82 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 3.01 and a beta of 0.40.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.