Matrix Asset Advisors Inc. NY Sells 38,740 Shares of American Electric Power Company, Inc. $AEP

Matrix Asset Advisors Inc. NY reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 190,857 shares of the company’s stock after selling 38,740 shares during the quarter. American Electric Power makes up 2.0% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 19th biggest position. Matrix Asset Advisors Inc. NY’s holdings in American Electric Power were worth $19,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its stake in American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company’s stock valued at $364,000 after purchasing an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of American Electric Power during the first quarter worth about $262,000. Venture Visionary Partners LLC increased its position in shares of American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock worth $7,080,000 after acquiring an additional 4,616 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of American Electric Power during the second quarter worth about $7,722,000. Finally, Robertson Stephens Wealth Management LLC bought a new stake in shares of American Electric Power during the first quarter worth about $205,000. 75.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the 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 completion of the transaction, the executive vice president directly owned 5,676 shares of the company’s stock, valued at $635,712. This represents a 15.06% decrease in their position. 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 that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director directly owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of American Electric Power in a research report on Monday, October 6th. They set an “outperform” rating and a $133.00 target price for the company. UBS Group boosted their target price on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday. Jefferies Financial Group decreased their target price on shares of American Electric Power from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. LADENBURG THALM/SH SH decreased their target price on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley decreased 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 report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $114.50.

American Electric Power Stock Performance

AEP stock opened at $117.04 on Friday. The firm has a market cap of $62.59 billion, a PE ratio of 17.11, a P/E/G ratio of 3.09 and a beta of 0.48. 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 business has a 50 day moving average of $111.44 and a 200-day moving average of $107.15. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $119.06.

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

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power’s dividend payout ratio is currently 54.39%.

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.