New York State Teachers Retirement System Sells 52,871 Shares of American Electric Power Company, Inc. $AEP

New York State Teachers Retirement System reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 11.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 419,422 shares of the company’s stock after selling 52,871 shares during the period. New York State Teachers Retirement System owned 0.08% of American Electric Power worth $43,519,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AEP. Brighton Jones LLC boosted its holdings in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after buying an additional 1,095 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 3,867 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company’s stock valued at $38,848,000 after buying an additional 73,488 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of American Electric Power in the 1st quarter valued at about $262,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of American Electric Power by 2.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,856 shares of the company’s stock valued at $1,186,000 after buying an additional 217 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $117.53 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. 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 50 day simple moving average of $111.76 and a two-hundred day simple moving average of $107.44. The stock has a market cap of $62.85 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 3.13 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 8th. American Electric Power’s payout ratio is presently 54.39%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AEP. Raymond James Financial restated an “outperform” rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Scotiabank lifted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Morgan Stanley lowered 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 note on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $119.26.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power 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 completion of the transaction, the director directly owned 35,898 shares of the company’s stock, valued at $4,218,732.96. The trade was a 12.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power 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 transaction, the executive vice president directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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 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.