Synovus Financial Corp Has $2.13 Million Stake in American Electric Power Company, Inc. $AEP

Key Points

• Synovus Financial Corp increased its stake in American Electric Power Company by 37.1% in the first quarter, now owning 19,440 shares valued at approximately $2.13 million.
• American Electric Power reported $1.43 earnings per share, exceeding analysts' expectations of $1.27, with revenues of $5.09 billion for the quarter.
• The company is set to issue a quarterly dividend of $0.93 per share, with a yield of 3.3%, payable on September 10th.

Synovus Financial Corp lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,440 shares of the company's stock after buying an additional 5,263 shares during the quarter. Synovus Financial Corp's holdings in American Electric Power were worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. ICONIQ Capital LLC acquired a new stake in shares of American Electric Power during the 1st quarter worth approximately $292,000. Jump Financial LLC grew its position in shares of American Electric Power by 1,503.1% during the 1st quarter. Jump Financial LLC now owns 162,655 shares of the company's stock worth $17,773,000 after buying an additional 152,509 shares during the period. SVB Wealth LLC grew its position in shares of American Electric Power by 6.1% during the 1st quarter. SVB Wealth LLC now owns 9,419 shares of the company's stock worth $1,029,000 after buying an additional 538 shares during the period. Smartleaf Asset Management LLC grew its position in shares of American Electric Power by 27.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,004 shares of the company's stock worth $535,000 after buying an additional 1,067 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of American Electric Power during the 1st quarter worth approximately $2,757,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

AEP opened at $112.63 on Wednesday. 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 company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 3.00 and a beta of 0.40. The firm's fifty day moving average price is $108.22 and its two-hundred day moving average price is $105.70. 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 quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. UBS Group lifted their price target on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Guggenheim lifted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Citigroup lifted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $111.29.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 24,173 shares of company stock worth $2,467,015. 0.07% of the stock is owned by insiders.

About American Electric Power

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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