Matrix Asset Advisors Inc. NY Sells 38,740 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Matrix Asset Advisors Inc. NY reduced its stake in American Electric Power Company by 16.9%, selling 38,740 shares and now holds 190,857 shares valued at approximately $19.8 million.
• The company's most recent earnings report showed an EPS of $1.43, which exceeded the consensus estimate by $0.16, with quarterly revenue at $5.09 billion.
• American Electric Power recently declared a dividend of $0.93 per share, representing a 3.2% yield and a payout ratio of 54.39%.

Matrix Asset Advisors Inc. NY lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,857 shares of the company's stock after selling 38,740 shares during the period. American Electric Power accounts for 2.0% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 19th largest holding. Matrix Asset Advisors Inc. NY's holdings in American Electric Power were worth $19,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Apollon Financial LLC boosted its position in American Electric Power by 2.8% in the second quarter. Apollon Financial LLC now owns 15,471 shares of the company's stock valued at $1,605,000 after buying an additional 422 shares in the last quarter. Apollon Wealth Management LLC boosted its position in American Electric Power by 9.0% in the second quarter. Apollon Wealth Management LLC now owns 26,240 shares of the company's stock valued at $2,723,000 after buying an additional 2,175 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in American Electric Power by 17.4% in the second quarter. Fifth Third Wealth Advisors LLC now owns 12,653 shares of the company's stock valued at $1,313,000 after buying an additional 1,873 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in American Electric Power by 4.4% in the second quarter. Trust Co. of Toledo NA OH now owns 19,841 shares of the company's stock valued at $2,059,000 after buying an additional 828 shares in the last quarter. Finally, JNBA Financial Advisors boosted its position in American Electric Power by 235.9% in the second quarter. JNBA Financial Advisors now owns 1,609 shares of the company's stock valued at $167,000 after buying an additional 1,130 shares in 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 Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the transaction, the executive vice president owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business'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 completion of the transaction, the director owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $117.04 on Friday. The firm has a market cap of $62.59 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $119.06. The firm's fifty day moving average is $111.44 and its 200-day moving average is $107.15.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. American Electric Power's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 yield of 3.2%. American Electric Power's payout ratio is presently 54.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AEP shares. Scotiabank raised their target price on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Evercore ISI started coverage on shares of American Electric Power in a research report on Monday, October 6th. They issued an "outperform" rating and a $133.00 target price on the stock. LADENBURG THALM/SH SH cut their target price 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. Barclays lifted their price target on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, American Electric Power currently has an average rating of "Hold" and an average target price of $114.50.

American Electric Power 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.

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