Truist Financial Corp Sells 10,324 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Truist Financial Corp lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 305,250 shares of the company's stock after selling 10,324 shares during the period. Truist Financial Corp owned about 0.06% of American Electric Power worth $33,355,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 1st quarter valued at $25,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power in the 1st quarter valued at $28,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at $28,000. Finally, Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $1.30 on Thursday, hitting $106.04. 2,482,735 shares of the company were exchanged, compared to its average volume of 3,614,416. The company's 50 day moving average price is $103.07 and its two-hundred day moving average price is $102.07. American Electric Power Company, Inc. has a one year low of $88.61 and a one year high of $110.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The firm has a market capitalization of $56.65 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.76 and a beta of 0.42.

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

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.51%. American Electric Power's payout ratio is currently 71.68%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEP. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. UBS Group boosted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research report on Friday, June 6th. Guggenheim boosted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Barclays boosted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $108.31.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction dated 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 directly owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated 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 in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently 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.