Assenagon Asset Management S.A. Sells 815,441 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Assenagon Asset Management cut its American Electric Power stake by 41.7% in the first quarter, selling 815,441 shares and leaving it with 1,142,050 shares worth about $149.7 million.
• American Electric Power reported stronger-than-expected quarterly results, with EPS of $1.64 versus $1.57 expected and revenue of $6.02 billion, up 10.2% year over year.
• The utility also announced a quarterly dividend of $0.95 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy on average with a $141.19 price target.

Assenagon Asset Management S.A. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 41.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,142,050 shares of the company's stock after selling 815,441 shares during the quarter. Assenagon Asset Management S.A. owned 0.21% of American Electric Power worth $149,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management increased its position in shares of American Electric Power by 72.2% during the 4th quarter. Activest Wealth Management now owns 217 shares of the company's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Dogwood Wealth Management LLC lifted its position in American Electric Power by 330.2% in the third quarter. Dogwood Wealth Management LLC now owns 228 shares of the company's stock worth $26,000 after buying an additional 175 shares during the last quarter. Optima Capital LLC purchased a new position in American Electric Power during the fourth quarter worth $26,000. Rakuten Securities Inc. boosted its stake in American Electric Power by 7,300.0% during the fourth quarter. Rakuten Securities Inc. now owns 222 shares of the company's stock worth $26,000 after buying an additional 219 shares during the period. Finally, Legacy Wealth Managment LLC ID increased its position in American Electric Power by 200.0% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company's stock valued at $27,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 1.0%

AEP opened at $135.05 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.42. The stock's fifty day moving average is $130.65 and its two-hundred day moving average is $126.23. The company has a market capitalization of $73.48 billion, a P/E ratio of 19.83, a PEG ratio of 2.67 and a beta of 0.53. American Electric Power Company, Inc. has a 52 week low of $101.15 and a 52 week high of $139.44.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.07. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.72 billion. American Electric Power had a net margin of 16.29% and a return on equity of 10.21%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Analysts forecast that American Electric Power Company, Inc. will post 6.35 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.8%. American Electric Power's payout ratio is 55.80%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AEP. Seaport Research Partners raised shares of American Electric Power from a "neutral" rating to a "buy" rating and set a $145.00 price target for the company in a research note on Monday, April 20th. Wells Fargo & Company raised their price objective on shares of American Electric Power from $144.00 to $148.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group boosted their target price on American Electric Power from $141.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Evercore raised their price target on American Electric Power from $137.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded American Electric Power from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, American Electric Power has an average rating of "Moderate Buy" and an average price target of $141.19.

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.

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