Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in American Electric Power Company, Inc. $AEP

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in American Electric Power by 6.7%, acquiring an additional 4,851 shares, bringing its total holdings to 76,929 shares valued at approximately $7.98 million.
• Several large investors, including Vanguard Group and Wellington Management, have also made significant changes to their positions, highlighting ongoing institutional interest in American Electric Power, which has 75.24% institutional ownership.
• American Electric Power recently posted $1.43 earnings per share for the quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.93 per share, reflecting a 3.5% dividend yield.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,929 shares of the company's stock after buying an additional 4,851 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in American Electric Power were worth $7,982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEP. Brighton Jones LLC increased its holdings in American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after buying an additional 1,095 shares in the last quarter. Tidal Investments LLC increased its holdings in American Electric Power by 14.8% in the fourth quarter. Tidal Investments LLC now owns 10,827 shares of the company's stock valued at $999,000 after buying an additional 1,393 shares in the last quarter. Two Sigma Investments LP grew its position in shares of American Electric Power by 168.7% in the fourth quarter. Two Sigma Investments LP now owns 57,818 shares of the company's stock valued at $5,333,000 after purchasing an additional 36,298 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $2,121,000. Finally, Westwood Holdings Group Inc. grew its position in shares of American Electric Power by 4.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,883 shares of the company's stock valued at $266,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analysts Set New Price Targets

AEP has been the topic of several research analyst reports. Mizuho dropped their target price on shares of American Electric Power from $116.00 to $113.00 and set a "neutral" rating on the stock in a research report on Tuesday. Raymond James Financial reiterated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Jefferies Financial Group dropped their target price on shares of American Electric Power from $120.00 to $116.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. Scotiabank lifted 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. Finally, Barclays lifted their target price on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $111.50.

Insiders Place Their Bets

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the transaction, the director directly owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is owned by insiders.

American Electric Power Trading Up 0.6%

NASDAQ:AEP traded up $0.62 on Friday, hitting $107.06. The stock had a trading volume of 5,846,040 shares, compared to its average volume of 2,856,833. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The stock has a market cap of $57.25 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.82 and a beta of 0.46. The company has a fifty day moving average price of $110.29 and a two-hundred day moving average price of $106.31. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. The company 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 was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 8th. American Electric Power's payout ratio is presently 54.39%.

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.