American Electric Power Company, Inc. $AEP Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in American Electric Power Company (AEP) by 1.2%, now holding approximately $518 million worth of shares.
• Other major institutional investors, including Nuveen LLC and GQG Partners LLC, have increased their stakes, with GQG Partners boosting its holdings by 30.4% during the same period.
• American Electric Power reported better-than-expected quarterly earnings, with $1.43 earnings per share, surpassing estimates of $1.27, and announced a quarterly dividend of $0.93 per share.

Ameriprise Financial Inc. decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,740,291 shares of the company's stock after selling 58,438 shares during the period. Ameriprise Financial Inc. owned about 0.89% of American Electric Power worth $517,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Clarius Group LLC grew its stake in shares of American Electric Power by 2.5% in the first quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after acquiring an additional 95 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its stake in shares of American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock worth $223,000 after acquiring an additional 100 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of American Electric Power by 3.0% in the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after acquiring an additional 101 shares in the last quarter. Ascent Group LLC grew its stake in shares of American Electric Power by 0.4% in the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after acquiring an additional 102 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of American Electric Power by 2.3% in the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock worth $418,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the firm'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 completion of the transaction, the executive vice president owned 10,274 shares in the company, 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 SEC, which is available through the SEC website. In the last 90 days, insiders sold 24,173 shares of company stock valued at $2,467,015. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AEP. Guggenheim boosted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Scotiabank boosted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. UBS Group boosted their target price on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Five 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 company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $111.29.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.16 on Wednesday, reaching $112.79. The company's stock had a trading volume of 636,397 shares, compared to its average volume of 3,542,694. The stock's 50-day moving average is $108.22 and its two-hundred day moving average is $105.70. 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 debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The stock has a market capitalization of $60.32 billion, a P/E ratio of 16.50, a PEG ratio of 3.00 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 EPS 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 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 business's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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