Axxcess Wealth Management LLC Trims Stake in American Electric Power Company, Inc. $AEP

Axxcess Wealth Management LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% during the second quarter, HoldingsChannel.com reports. The firm owned 40,635 shares of the company’s stock after selling 1,506 shares during the period. Axxcess Wealth Management LLC’s holdings in American Electric Power were worth $4,216,000 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 fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares during the period. GAMMA Investing LLC increased its holdings in American Electric Power by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company’s stock worth $2,150,000 after purchasing an additional 3,867 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in American Electric Power by 26.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company’s stock worth $38,848,000 after purchasing an additional 73,488 shares during the period. Ritholtz Wealth Management purchased a new position in American Electric Power during the 1st quarter worth $262,000. Finally, Exchange Traded Concepts LLC increased its holdings in American Electric Power by 2.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 10,856 shares of the company’s stock worth $1,186,000 after purchasing an additional 217 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of AEP opened at $118.38 on Wednesday. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month 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 50 day moving average of $111.58 and a two-hundred day moving average of $107.31.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share 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 company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the firm earned $1.25 earnings per share. American Electric Power’s 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 fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 8th. American Electric Power’s payout ratio is presently 54.39%.

Insider Buying and Selling 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 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 sale, the director directly owned 35,898 shares in the company, valued at approximately $4,218,732.96. The trade was a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock valued at $1,243,522 over the last quarter. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several research reports. UBS Group raised their price objective on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a report on Friday. Barclays increased their price objective on shares of American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley dropped their price objective on shares of American Electric Power from $117.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Raymond James Financial reiterated an “outperform” rating and set a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Finally, Evercore ISI began coverage on shares of American Electric Power in a research note on Monday, October 6th. They set an “outperform” rating and a $133.00 price objective on the stock. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $114.90.

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.