Assenagon Asset Management S.A. Boosts Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• Assenagon Asset Management S.A. has significantly increased its stake in American Electric Power by 318.8%, holding 1,244,640 shares valued at approximately $129.14 million as of its latest SEC filing.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, representing an annualized dividend of $3.72 with a yield of 3.5%.
• The company reported a quarterly earnings per share (EPS) of $1.43, exceeding analysts' expectations and showing an 11.1% increase in revenue compared to the previous year.

Assenagon Asset Management S.A. increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 318.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,244,640 shares of the company's stock after purchasing an additional 947,418 shares during the period. Assenagon Asset Management S.A. owned 0.23% of American Electric Power worth $129,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth about $28,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power in the 1st quarter worth $28,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the 1st quarter worth $31,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. LADENBURG THALM/SH SH cut their target price on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research report on Wednesday, September 10th. Jefferies Financial Group cut their price target on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. Barclays upped their price target on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. UBS Group boosted their target price on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. Finally, Mizuho decreased their target price on shares of 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. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $111.50.

American Electric Power Stock Performance

Shares of AEP stock traded up $0.22 during trading on Tuesday, reaching $107.27. 422,139 shares of the company's stock were exchanged, compared to its average volume of 3,501,710. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The firm's fifty day moving average price is $110.33 and its 200-day moving average price is $106.37. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. The stock has a market capitalization of $57.37 billion, a PE ratio of 15.68, a PEG ratio of 2.83 and a beta of 0.46.

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 (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The company 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 posted $1.25 EPS. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, August 8th. American Electric Power's payout ratio is presently 54.39%.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the completion of the sale, the director owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company's stock.

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.