American Electric Power Company, Inc. (NASDAQ:AEP) Stock Position Increased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in American Electric Power Company (AEP) by 3.2%, holding 142,558 shares worth approximately $15.58 million according to its latest SEC filing.
• AEP recently received positive updates from analysts, with Barclays raising its target price from $105 to $111, while Raymond James set a new target price of $122, indicating a generally favorable outlook for the stock.
• The company declared a quarterly dividend of $0.93 per share, reflecting a 3.3% yield, with a payout ratio of 54.39%, further highlighting its commitment to returning value to shareholders.

Public Sector Pension Investment Board raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,558 shares of the company's stock after purchasing an additional 4,373 shares during the quarter. Public Sector Pension Investment Board's holdings in American Electric Power were worth $15,577,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new position in American Electric Power during the first quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power in the fourth quarter valued at about $28,000. Bank of New Hampshire purchased a new stake in shares of American Electric Power in the first quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of American Electric Power in the first quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of American Electric Power in the first quarter valued at about $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Citigroup boosted their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, 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 research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $111.29.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the 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 of the company's stock, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president owned 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is owned by company insiders.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.25 on Thursday, reaching $112.86. 2,230,746 shares of the company's stock were exchanged, compared to its average volume of 3,595,063. The business's 50-day moving average is $106.29 and its two-hundred day moving average is $104.83. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. 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 $60.36 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.97 and a beta of 0.40.

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, 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 for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast 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 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 yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio is presently 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.