Panagora Asset Management Inc. Sells 15,337 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Panagora Asset Management Inc. reduced its holdings in American Electric Power Company by 48.3% in the 1st quarter, selling 15,337 shares and leaving it with 16,416 shares valued at $1.794 million.
• American Electric Power recently beat analysts' earnings estimates with reported earnings of $1.43 per share, surpassing the consensus estimate of $1.27.
• The company declared a quarterly dividend of $0.93 per share, with a yield of 3.4%, to be paid on September 10th to shareholders of record on August 8th.

Panagora Asset Management Inc. lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 48.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,416 shares of the company's stock after selling 15,337 shares during the quarter. Panagora Asset Management Inc.'s holdings in American Electric Power were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its holdings in American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock valued at $364,000 after acquiring an additional 430 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of American Electric Power during the first quarter worth about $262,000. Robertson Stephens Wealth Management LLC acquired a new position in shares of American Electric Power during the first quarter worth about $205,000. GAMMA Investing LLC lifted its stake in shares of American Electric Power by 24.5% during the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after purchasing an additional 3,867 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of American Electric Power by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock worth $38,848,000 after purchasing an additional 73,488 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded down $0.53 during midday trading on Friday, hitting $108.11. 3,664,308 shares of the company's stock were exchanged, compared to its average volume of 2,873,246. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The stock's 50 day moving average price is $109.55 and its 200-day moving average price is $106.18. The firm has a market cap of $57.82 billion, a P/E ratio of 15.81, a PEG ratio of 2.87 and a beta of 0.46. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36.

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

American Electric Power Dividend Announcement

The firm 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 is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. American Electric Power's payout ratio is currently 54.39%.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent research reports. Mizuho set a $116.00 price objective on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Barclays lifted their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. UBS Group lifted their target price 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. Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of American Electric Power in a research report on Thursday, August 21st. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $111.29.

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.