The Manufacturers Life Insurance Company Sells 20,498 Shares of American Electric Power Company, Inc. $AEP

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in American Electric Power by 2.6%, holding approximately 758,796 shares worth $82.91 million as of its latest SEC filing.
• American Electric Power reported an EPS of $1.43 for the latest quarter, exceeding analysts' expectations and showcasing a revenue increase of 11.1% year-over-year.
• The company announced a quarterly dividend of $0.93 per share, representing an annualized yield of 3.4%, with 75.24% of the stock currently owned by institutional investors.

The Manufacturers Life Insurance Company lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 758,796 shares of the company's stock after selling 20,498 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.14% of American Electric Power worth $82,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the first quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power during the 4th quarter worth approximately $28,000. Bank of New Hampshire bought a new position in shares of American Electric Power during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of American Electric Power during the 1st quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power in the first quarter valued at $35,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 1.5%

Shares of NASDAQ AEP traded down $1.65 during midday trading on Thursday, hitting $108.38. The stock had a trading volume of 3,322,947 shares, compared to its average volume of 3,540,868. The business's 50 day moving average is $109.31 and its 200-day moving average is $106.07. The company has a market cap of $57.96 billion, a P/E ratio of 15.83, a PEG ratio of 2.94 and a beta of 0.46. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion during 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%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is presently 54.39%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup boosted 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. UBS Group raised their price objective 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. Scotiabank upped 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. Raymond James Financial restated 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. Finally, Barclays boosted 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. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $111.29.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business'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 transaction of $819,820.92. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by insiders.

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.