American Electric Power Company, Inc. $AEP Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,574 shares of the company’s stock after acquiring an additional 670 shares during the period. Amalgamated Bank’s holdings in American Electric Power were worth $10,954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in American Electric Power by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock worth $5,711,519,000 after acquiring an additional 579,175 shares during the period. Wellington Management Group LLP grew its holdings in American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after acquiring an additional 4,323,569 shares during the period. GQG Partners LLC grew its holdings in American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after acquiring an additional 4,570,941 shares during the period. 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 worth $572,332,000 after acquiring an additional 386,518 shares during the period. Finally, Nuveen LLC acquired a new stake in American Electric Power in the first quarter valued at $568,042,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Down 0.2%

AEP opened at $121.89 on Friday. 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 cap of $65.19 billion, a P/E ratio of 17.77, a PEG ratio of 3.22 and a beta of 0.48. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $122.85. The business’s fifty day simple moving average is $112.82 and its 200 day simple moving average is $108.41.

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

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, November 10th. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio is 54.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AEP. BTIG Research began coverage on American Electric Power in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Morgan Stanley raised their price target on American Electric Power from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen began coverage on American Electric Power in a research report on Thursday, October 16th. They issued a “buy” rating and a $133.00 price target for the company. Scotiabank raised their price target on American Electric Power from $114.00 to $121.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Jefferies Financial Group raised their price target on American Electric Power from $116.00 to $128.00 and gave the company a “hold” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.44.

Insiders Place Their Bets

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the transaction, the director owned 35,898 shares in the company, valued at $4,218,732.96. This trade represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,006 shares of company stock worth $1,243,522. Corporate insiders own 0.07% of the company’s stock.

About American Electric Power

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.