Intech Investment Management LLC Sells 8,930 Shares of American Electric Power Company, Inc. $AEP

Intech Investment Management LLC decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 21.6% in the 2nd quarter, Holdings Channel reports. The firm owned 32,332 shares of the company’s stock after selling 8,930 shares during the quarter. Intech Investment Management LLC’s holdings in American Electric Power were worth $3,355,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of American Electric Power by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock worth $5,711,519,000 after purchasing an additional 579,175 shares in the last quarter. Wellington Management Group LLP increased its position in shares of American Electric Power by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after purchasing an additional 4,323,569 shares during the last quarter. GQG Partners LLC boosted its stake in American Electric Power by 30.4% in the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares during the last quarter. Geode Capital Management LLC grew its holdings in American Electric Power by 2.2% during the second quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock valued at $1,379,532,000 after purchasing an additional 285,000 shares during the period. Finally, Northern Trust Corp grew its holdings in American Electric Power by 8.0% during the first quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock valued at $572,332,000 after purchasing an additional 386,518 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Down 0.2%

Shares of NASDAQ AEP opened at $123.51 on Wednesday. The firm’s 50 day simple moving average is $115.62 and its two-hundred day simple moving average is $109.73. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $124.80. The stock has a market capitalization of $65.97 billion, a P/E ratio of 18.00, a PEG ratio of 3.22 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.95 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is 55.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director directly owned 40,898 shares of the company’s stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,006 shares of company stock valued at $1,851,422. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AEP has been the topic of several research reports. Evercore ISI restated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Mizuho increased their target price on American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. TD Cowen raised American Electric Power to a “strong-buy” rating in a report on Thursday, October 30th. UBS Group raised their target price on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Finally, Citigroup increased their price target on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.03.

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.