QRG Capital Management Inc. Sells 26,953 Shares of American Electric Power Company, Inc. $AEP

Key Points

• QRG Capital Management Inc. has reduced its stake in American Electric Power Company, Inc. by 15.5%, selling 26,953 shares and holding 147,148 shares valued at $15.26 million by the end of the last quarter.
• American Electric Power reported a quarterly earnings per share (EPS) of $1.43, exceeding analysts' expectations by $0.16, with a revenue of $5.09 billion for the quarter.
• The company declared a quarterly dividend of $0.93 per share, translating to an annual yield of 3.3%, with a payout ratio of 54.39%.

QRG Capital Management Inc. lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,148 shares of the company's stock after selling 26,953 shares during the quarter. QRG Capital Management Inc.'s holdings in American Electric Power were worth $15,268,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of American Electric Power by 1.1% in the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock worth $5,711,519,000 after purchasing an additional 579,175 shares during the period. Wellington Management Group LLP increased its holdings in shares of American Electric Power by 24.3% in 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. GQG Partners LLC increased its holdings in shares of American Electric Power by 30.4% in the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock worth $2,145,130,000 after purchasing an additional 4,570,941 shares during the period. Northern Trust Corp increased its holdings in shares of American Electric Power by 8.0% in the first quarter. Northern Trust Corp now owns 5,237,782 shares of the company's stock worth $572,332,000 after purchasing an additional 386,518 shares during the period. Finally, Nuveen LLC bought a new position in shares of American Electric Power in the first quarter worth $568,042,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 0.5%

Shares of NASDAQ:AEP opened at $114.06 on Friday. The stock's 50-day moving average price is $110.87 and its 200-day moving average price is $106.70. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36. The stock has a market capitalization of $61.00 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) 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 firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the firm earned $1.25 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts anticipate 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. Stockholders of record on Friday, August 8th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, August 8th. American Electric Power's dividend payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Morgan Stanley reduced their target price on American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. UBS Group increased their target price on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research note on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $111.63.

Insider Transactions at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the 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 completion of the sale, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares of the company's stock, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company's stock.

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.

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