Fifth Third Bancorp Has $24.54 Million Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• Fifth Third Bancorp increased its position in American Electric Power Company by 8.5%, now holding 236,504 shares valued at approximately $24.54 million.
• Several other institutional investors have also significantly increased their stakes in AEP, with 75.24% of the stock being owned by institutional investors.
• The company recently paid a quarterly dividend of $0.93 on August 8th, which gives an annualized dividend yield of 3.4%.

Fifth Third Bancorp raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 236,504 shares of the company's stock after purchasing an additional 18,459 shares during the quarter. Fifth Third Bancorp's holdings in American Electric Power were worth $24,540,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AEP. Nuveen LLC bought a new stake in American Electric Power during the first quarter valued at $568,042,000. GQG Partners LLC boosted its position in shares of American Electric Power by 30.4% during the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after purchasing an additional 4,570,941 shares in the last quarter. Wellington Management Group LLP grew its stake in American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock worth $2,415,144,000 after purchasing an additional 4,323,569 shares during the period. GAMMA Investing LLC grew its stake in American Electric Power by 13,499.5% during the first quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after purchasing an additional 2,134,404 shares during the period. Finally, Bessemer Group Inc. increased its holdings in American Electric Power by 4,567.3% in the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after purchasing an additional 1,726,868 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

American Electric Power Price Performance

AEP stock opened at $108.88 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The business has a 50-day simple moving average of $110.47 and a two-hundred day simple moving average of $106.40. The company has a market capitalization of $58.23 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.86 and a beta of 0.46. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the company earned $1.25 earnings per share. The company's revenue for the quarter 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. Research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. American Electric Power's dividend payout ratio is currently 54.39%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AEP. UBS Group increased their price target on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Mizuho cut their target price on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Scotiabank lifted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Finally, Raymond James Financial restated an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $111.50.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.