Swiss Life Asset Management Ltd trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 55.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,294 shares of the company’s stock after selling 134,900 shares during the period. Swiss Life Asset Management Ltd’s holdings in American Electric Power were worth $12,487,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in AEP. Victory Capital Management Inc. grew its position in American Electric Power by 105.6% in the third quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock worth $595,243,000 after acquiring an additional 2,763,328 shares in the last quarter. Soroban Capital Partners LP grew its position in American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after acquiring an additional 2,555,415 shares in the last quarter. Assenagon Asset Management S.A. grew its position in American Electric Power by 357.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company’s stock worth $225,718,000 after acquiring an additional 1,529,662 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of American Electric Power by 118.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company’s stock worth $286,692,000 after buying an additional 1,400,547 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of American Electric Power by 26.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,084,813 shares of the company’s stock worth $684,772,000 after buying an additional 1,285,279 shares during the period. 75.24% of the stock is owned by institutional investors.
American Electric Power Price Performance
NASDAQ:AEP opened at $131.94 on Wednesday. The company has a 50-day moving average of $132.58 and a 200-day moving average of $124.45. The company has a market capitalization of $71.79 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.07 and a beta of 0.56. American Electric Power Company, Inc. has a 52 week low of $97.46 and a 52 week high of $139.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.53.
American Electric Power Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, May 8th. American Electric Power’s dividend payout ratio (DPR) is currently 55.80%.
Analysts Set New Price Targets
Several research firms recently issued reports on AEP. Morgan Stanley decreased their price objective on shares of American Electric Power from $137.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 price objective on shares of American Electric Power in a report on Friday, February 20th. Truist Financial began coverage on shares of American Electric Power in a report on Tuesday, April 21st. They set a “buy” rating and a $148.00 price objective for the company. Wall Street Zen downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company upped their price objective on shares of American Electric Power from $144.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.29.
Check Out Our Latest Research Report on AEP
Insider Activity
In related news, EVP Phillip R. Ulrich sold 4,106 shares of American Electric Power stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $132.08, for a total transaction of $542,320.48. Following the completion of the transaction, the executive vice president directly owned 42,263 shares of the company’s stock, valued at $5,582,097.04. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,351 shares of American Electric Power stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $131.46, for a total transaction of $177,602.46. Following the transaction, the executive vice president directly owned 15,410 shares of the company’s stock, valued at $2,025,798.60. This represents a 8.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.05% of the company’s stock.
About American Electric Power
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.
See Also
- Five stocks we like better than American Electric Power
- Navy Catalyst Ignites Odysight’s Growth Engine
- AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?
- Axon Surged After Earnings and Is Still Down Over 50% From Highs
- The Event That Could Redefine Apple’s Summer Rally
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.
