American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. holds a significant position in American Electric Power, owning approximately $403.48 million, which accounts for about 0.9% of its portfolio.
• American Electric Power's stock declined by 1.7% with a recent trading price of $107.95, reflecting a 1-year low of $89.91 and a high of $110.51.
• The company reported better-than-expected earnings of $1.54 per share for the last quarter, exceeding analysts' estimates by $0.14 with a revenue of $5.46 billion.

Federated Hermes Inc. decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,692,490 shares of the company's stock after selling 14,676 shares during the period. American Electric Power makes up about 0.9% of Federated Hermes Inc.'s portfolio, making the stock its 17th biggest holding. Federated Hermes Inc. owned about 0.69% of American Electric Power worth $403,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power during the 4th quarter valued at about $28,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 0.5%

AEP traded up $0.57 during trading hours on Friday, reaching $113.71. The company's stock had a trading volume of 2,505,708 shares, compared to its average volume of 3,585,051. The stock has a market cap of $60.74 billion, a PE ratio of 16.62, a P/E/G ratio of 3.01 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $114.38. The business's 50-day moving average is $104.39 and its 200-day moving average is $103.82.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.98% and a net margin of 17.68%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 in the last ninety days. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several research analyst reports. Scotiabank lifted their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday. Guggenheim lifted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Finally, BMO Capital Markets raised their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.29.

American Electric Power Company 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.