American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Reduced by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in American Electric Power Company by 12.5%, totaling 24,655 shares valued at approximately $2.69 million as reported in their 13F filing.
• American Electric Power recently reported a profit of $1.43 EPS for the latest quarter, outperforming analyst expectations, with revenues totaling $5.09 billion, reflecting an 11.1% increase year-over-year.
• The company also announced a quarterly dividend of $0.93 per share, translating to an annual yield of 3.3%, illustrating its commitment to returning value to shareholders.

Maryland State Retirement & Pension System lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,655 shares of the company's stock after selling 3,508 shares during the period. Maryland State Retirement & Pension System's holdings in American Electric Power were worth $2,694,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in shares of American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after buying an additional 2,165,888 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of American Electric Power by 13,499.5% in the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after buying an additional 2,134,404 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of American Electric Power by 4,567.3% in the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after buying an additional 1,726,868 shares in the last quarter. Cohen & Steers Inc. bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $121,605,000. Finally, Bank of America Corp DE raised its holdings in shares of American Electric Power by 27.5% in the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after purchasing an additional 1,105,317 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 0.0%

Shares of AEP stock traded down $0.01 on Tuesday, reaching $111.99. 2,576,388 shares of the company's stock traded hands, compared to its average volume of 3,597,413. 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 debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company has a market capitalization of $59.89 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40. The business's 50 day moving average price is $105.88 and its two-hundred day moving average price is $104.73.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly 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 business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. American Electric Power's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, 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 document filed with the SEC, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on AEP shares. Mizuho set a $116.00 target price on shares of American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Citigroup lifted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.