Dakota Wealth Management Lowers Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Dakota Wealth Management cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,752 shares of the company’s stock after selling 1,043 shares during the quarter. Dakota Wealth Management’s holdings in American Electric Power were worth $5,330,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AEP. SVB Wealth LLC raised its holdings in American Electric Power by 20.0% in the fourth quarter. SVB Wealth LLC now owns 8,891 shares of the company’s stock worth $722,000 after purchasing an additional 1,481 shares in the last quarter. Xponance Inc. increased its holdings in shares of American Electric Power by 5.1% during the fourth quarter. Xponance Inc. now owns 67,786 shares of the company’s stock valued at $5,506,000 after acquiring an additional 3,302 shares in the last quarter. HTLF Bank acquired a new position in shares of American Electric Power during the fourth quarter valued at about $249,000. Wetzel Investment Advisors Inc. acquired a new position in shares of American Electric Power during the fourth quarter valued at about $32,000. Finally, abrdn plc increased its holdings in shares of American Electric Power by 1.9% during the fourth quarter. abrdn plc now owns 258,063 shares of the company’s stock valued at $20,960,000 after acquiring an additional 4,876 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley cut their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.08.

American Electric Power Stock Performance

American Electric Power stock traded up $0.17 during mid-day trading on Tuesday, hitting $97.71. The company had a trading volume of 505,871 shares, compared to its average volume of 3,266,572. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41. The company’s fifty day moving average is $92.41 and its 200-day moving average is $87.60. The company has a market capitalization of $51.51 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.60%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

American Electric Power Company 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.