Assenagon Asset Management S.A. Sells 1,049,338 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Assenagon Asset Management cut its American Electric Power stake by 91.9%, selling 1,049,338 shares and retaining 92,712 shares valued at approximately $12.7 million. Institutional investors collectively own 75.24% of AEP.
• AEP shares opened at $122.84, down 2.3%, after the company reported quarterly EPS of $1.36—below the $1.48 analyst consensus—despite revenue of $5.45 billion, which exceeded expectations and rose 7% year over year.
• The company declared a quarterly dividend of $0.95 per share, representing a 3.1% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $140.71.

Assenagon Asset Management S.A. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 91.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,712 shares of the company's stock after selling 1,049,338 shares during the period. Assenagon Asset Management S.A.'s holdings in American Electric Power were worth $12,684,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in American Electric Power by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company's stock valued at $6,053,417,000 after acquiring an additional 828,588 shares during the period. State Street Corp grew its position in shares of American Electric Power by 5.2% during the fourth quarter. State Street Corp now owns 30,437,776 shares of the company's stock worth $3,509,780,000 after purchasing an additional 1,514,865 shares in the last quarter. Morgan Stanley grew its position in shares of American Electric Power by 1.9% during the fourth quarter. Morgan Stanley now owns 14,661,858 shares of the company's stock worth $1,690,659,000 after purchasing an additional 271,879 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Electric Power by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 13,823,744 shares of the company's stock worth $1,587,841,000 after purchasing an additional 83,285 shares in the last quarter. Finally, Barclays PLC raised its stake in American Electric Power by 0.5% during the 4th quarter. Barclays PLC now owns 10,626,841 shares of the company's stock valued at $1,225,381,000 after purchasing an additional 57,807 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Trading Down 2.3%

Shares of AEP stock opened at $122.84 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. American Electric Power Company, Inc. has a 12-month low of $105.70 and a 12-month high of $140.58. The stock's 50-day moving average price is $131.53 and its 200-day moving average price is $130.16.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.34 billion. American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. American Electric Power's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 6.37 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. American Electric Power's dividend payout ratio is 65.18%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AEP. Truist Financial boosted their price target on American Electric Power from $145.00 to $146.00 and gave the stock a "buy" rating in a report on Friday, July 17th. TD Cowen increased their price objective on shares of American Electric Power from $141.00 to $148.00 and gave the company a "buy" rating in a report on Friday, May 15th. Morgan Stanley lifted their price objective on shares of American Electric Power from $136.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their target price on shares of American Electric Power from $147.00 to $154.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of American Electric Power in a research report on Monday, June 1st. Thirteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

American Electric Power Profile

American Electric Power NASDAQ: AEP is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source