Korea Investment CORP Cuts Position in American Electric Power Company, Inc. $AEP

Korea Investment CORP trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 318,349 shares of the company’s stock after selling 4,493 shares during the quarter. Korea Investment CORP’s holdings in American Electric Power were worth $35,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. Vanguard Group Inc. grew its stake in shares of American Electric Power by 0.4% in the second quarter. Vanguard Group Inc. now owns 52,467,779 shares of the company’s stock valued at $5,444,057,000 after buying an additional 197,998 shares in the last quarter. State Street Corp lifted its stake in American Electric Power by 2.3% during the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock worth $2,958,869,000 after acquiring an additional 653,712 shares in the last quarter. Geode Capital Management LLC lifted its stake in American Electric Power by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock worth $1,379,532,000 after acquiring an additional 285,000 shares in the last quarter. Invesco Ltd. boosted its holdings in American Electric Power by 5.9% during the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after acquiring an additional 432,441 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in American Electric Power by 105.6% during the 3rd quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock valued at $595,243,000 after acquiring an additional 2,763,328 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho boosted their price target on shares of American Electric Power from $123.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Wall Street Zen raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Williams Trading set a $137.00 price objective on shares of American Electric Power in a report on Thursday, December 18th. UBS Group increased their target price on shares of American Electric Power from $132.00 to $135.00 in a report on Monday. Finally, Scotiabank raised their price target on shares of American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 16th. Thirteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, American Electric Power currently has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Activity

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the transaction, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Phillip R. Ulrich sold 4,106 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $132.08, for a total value of $542,320.48. Following the completion of the transaction, the executive vice president directly owned 42,263 shares in the company, valued at $5,582,097.04. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,457 shares of company stock worth $1,295,273. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Performance

Shares of AEP opened at $131.86 on Tuesday. American Electric Power Company, Inc. has a 1 year low of $97.46 and a 1 year high of $134.60. The stock has a market capitalization of $71.59 billion, a PE ratio of 19.68, a PEG ratio of 3.10 and a beta of 0.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.33 and a current ratio of 0.45. The stock has a 50-day simple moving average of $122.80 and a 200-day simple moving average of $118.10.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 12th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.07 billion. American Electric Power had a net margin of 16.37% and a return on equity of 10.46%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. American Electric Power has set its FY 2026 guidance at 6.150-6.450 EPS. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.9%. American Electric Power’s dividend payout ratio is currently 56.72%.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.