Chevy Chase Trust Holdings LLC Acquires 45,312 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in American Electric Power by 4.5%, acquiring an additional 45,312 shares and bringing its total ownership to about 1,044,695 shares valued at $108.4 million.
• Analysts have varied opinions on American Electric Power, with BMO Capital Markets raising its target price from $121.00 to $127.00 and ten analysts rating the stock as a Buy.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, translating to an annualized dividend yield of 3.2%.

Chevy Chase Trust Holdings LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,044,695 shares of the company's stock after buying an additional 45,312 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.20% of American Electric Power worth $108,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its stake in shares of American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after buying an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of American Electric Power in the first quarter worth approximately $262,000. Venture Visionary Partners LLC lifted its stake in shares of American Electric Power by 7.3% in the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company's stock worth $7,080,000 after buying an additional 4,616 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of American Electric Power in the second quarter worth approximately $7,722,000. Finally, Robertson Stephens Wealth Management LLC bought a new position in shares of American Electric Power in the first quarter worth approximately $205,000. Institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of American Electric Power from $121.00 to $127.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays upped their target price on shares of American Electric Power from $111.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Mizuho lowered their price objective on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 16th. Raymond James Financial restated an "outperform" rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, LADENBURG THALM/SH SH lowered their price objective on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 10th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $119.26.

Insider Buying and Selling at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the firm's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the transaction, the executive vice president directly owned 5,676 shares of the company's stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director directly owned 40,898 shares of the company's stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock valued at $1,243,522 over the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Down 0.8%

Shares of AEP stock opened at $117.53 on Friday. The company has a 50 day simple moving average of $111.76 and a two-hundred day simple moving average of $107.44. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock has a market cap of $62.85 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.13 and a beta of 0.48. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $120.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The firm 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 company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power's dividend payout ratio (DPR) 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.

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