Freedom Investment Management Inc. Sells 2,307 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Freedom Investment Management Inc. sold 2,307 shares of American Electric Power (AEP), reducing its stake by 17.6% to own 10,768 shares valued at approximately $1,177,000.
• Multiple institutional investors have increased their stakes in AEP, with GQG Partners LLC expanding its holdings by 30.4% and GAMMA Investing LLC increasing by an astonishing 13,499.5%.
• AEP recently announced a quarterly dividend of $0.93 payable on September 10th, reflecting an annualized dividend of $3.72 and a yield of 3.3%.

Freedom Investment Management Inc. reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,768 shares of the company's stock after selling 2,307 shares during the period. Freedom Investment Management Inc.'s holdings in American Electric Power were worth $1,177,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Synovus Financial Corp increased its stake in shares of American Electric Power by 37.1% in the 1st quarter. Synovus Financial Corp now owns 19,440 shares of the company's stock valued at $2,125,000 after purchasing an additional 5,263 shares during the last quarter. ICONIQ Capital LLC bought a new position in American Electric Power in the first quarter valued at about $292,000. Jump Financial LLC grew its holdings in shares of American Electric Power by 1,503.1% during the 1st quarter. Jump Financial LLC now owns 162,655 shares of the company's stock valued at $17,773,000 after purchasing an additional 152,509 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of American Electric Power by 6.1% during the first quarter. SVB Wealth LLC now owns 9,419 shares of the company's stock worth $1,029,000 after buying an additional 538 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of American Electric Power by 27.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,004 shares of the company's stock valued at $535,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred 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 transaction, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 24,173 shares of company stock valued at $2,467,015 in the last 90 days. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Barclays raised their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. UBS Group raised their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Finally, Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $111.29.

American Electric Power Stock Down 1.0%

Shares of AEP traded down $1.11 during trading hours on Thursday, reaching $111.78. The stock had a trading volume of 3,697,314 shares, compared to its average volume of 3,560,249. The firm has a 50-day simple moving average of $108.45 and a 200 day simple moving average of $105.75. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. 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 company has a market capitalization of $59.78 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.99 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter 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. 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. Shareholders of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is currently 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.