American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,250 shares of the company's stock after selling 10,324 shares during the quarter. Truist Financial Corp owned 0.06% of American Electric Power worth $33,355,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AEP. Element Wealth LLC acquired a new position in shares of American Electric Power during the 1st quarter worth $202,000. Argyle Capital Management LLC raised its stake in shares of American Electric Power by 28.7% during the 1st quarter. Argyle Capital Management LLC now owns 6,600 shares of the company's stock worth $721,000 after buying an additional 1,470 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of American Electric Power by 0.4% during the 1st quarter. Strategic Blueprint LLC now owns 24,552 shares of the company's stock worth $2,683,000 after buying an additional 108 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of American Electric Power by 86.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,396 shares of the company's stock worth $480,000 after buying an additional 2,044 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of American Electric Power by 3.8% during the 1st quarter. IFM Investors Pty Ltd now owns 147,950 shares of the company's stock worth $15,180,000 after buying an additional 5,371 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Trading Up 0.3%

AEP traded up $0.31 on Monday, reaching $104.17. 2,703,877 shares of the company's stock were exchanged, compared to its average volume of 3,221,654. The company has a market cap of $55.65 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.76 and a beta of 0.42. American Electric Power Company, Inc. has a twelve month low of $86.83 and a twelve month high of $110.48. The company's 50 day moving average is $103.29 and its 200-day moving average is $101.96. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. American Electric Power's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Bank of America boosted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Raymond James Financial assumed coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 target price for the company. Guggenheim lifted their price target on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $108.31.

Insider Activity at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the 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 completion of the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,314 shares of company stock valued at $3,508,293. Company insiders own 0.07% of the company's stock.

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.