Sovereign Financial Group Inc. Purchases 1,125 Shares of American Electric Power Company, Inc. $AEP

Sovereign Financial Group Inc. lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,086 shares of the company’s stock after acquiring an additional 1,125 shares during the quarter. Sovereign Financial Group Inc.’s holdings in American Electric Power were worth $735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AEP. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter valued at about $25,000. Bayforest Capital Ltd bought a new position in American Electric Power in the first quarter worth about $31,000. Missouri Trust & Investment Co bought a new position in American Electric Power in the second quarter worth about $31,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power in the first quarter worth about $33,000. Finally, IMA Advisory Services Inc. bought a new position in American Electric Power in the first quarter worth about $35,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AEP has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Scotiabank boosted 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 report on Thursday, July 31st. Evercore ISI initiated coverage on shares of American Electric Power in a report on Monday, October 6th. They issued an “outperform” rating and a $133.00 target price for the company. Barclays boosted their target price on shares of American Electric Power from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, LADENBURG THALM/SH SH reduced 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 report on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.50.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director owned 40,898 shares in the company, valued at $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

American Electric Power Stock Performance

AEP opened at $117.04 on Friday. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $119.06. 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 company has a market cap of $62.59 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. The firm’s 50-day moving average price is $111.44 and its 200-day moving average price is $107.15.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data 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. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The company’s revenue for the quarter 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, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. 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.