Werba Rubin Papier Wealth Management Makes New Investment in American Electric Power Company, Inc. $AEP

Key Points

• Werba Rubin Papier Wealth Management has acquired a new stake in American Electric Power (AEP), purchasing 2,144 shares valued at approximately $222,000 during the second quarter of 2023.
• Insider trading activity saw Director Benjamin G. S. Fowke III sell 5,000 shares for $587,600, reducing his ownership by 12.23%, while other executives also sold shares recently.
• AEP reported better-than-expected quarterly earnings of $1.43 per share, exceeding analysts' estimates, and has set its FY 2025 EPS guidance at between 6.570 and 6.770.

Werba Rubin Papier Wealth Management purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,144 shares of the company's stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also modified their holdings of AEP. Brighton Jones LLC grew its holdings in shares of American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after acquiring an additional 1,095 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after purchasing an additional 3,867 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in American Electric Power by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock worth $38,848,000 after purchasing an additional 73,488 shares in the last quarter. Ritholtz Wealth Management bought a new stake in American Electric Power in the first quarter worth $262,000. Finally, Exchange Traded Concepts LLC boosted its holdings in American Electric Power by 2.0% in the first quarter. Exchange Traded Concepts LLC now owns 10,856 shares of the company's stock worth $1,186,000 after purchasing an additional 217 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director directly owned 35,898 shares of the company's stock, valued at $4,218,732.96. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,006 shares of company stock valued at $1,243,522. Company insiders own 0.07% of the company's stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $117.53 on Friday. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $120.46. 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 firm has a market capitalization of $62.85 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.48. The firm has a 50-day moving average price of $111.76 and a 200 day moving average price of $107.44.

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 for the quarter, topping the consensus estimate of $1.27 by $0.16. The company 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 company's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Research 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 was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AEP. Jefferies Financial Group upped their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the stock a "hold" rating in a report on Thursday. Evercore ISI started coverage on shares of American Electric Power in a research report on Monday, October 6th. They set an "outperform" rating and a $133.00 target price for the company. LADENBURG THALM/SH SH cut their target price on shares of American Electric Power from $112.00 to $108.50 and set a "neutral" rating for the company in a research report on Wednesday, September 10th. Morgan Stanley cut their target price on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group boosted their target price on shares of American Electric Power from $125.00 to $128.00 and gave the stock a "buy" rating in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, eight 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 a consensus rating of "Hold" and an average price target of $119.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.