American Electric Power Company, Inc. $AEP Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,753 shares of the company’s stock after buying an additional 6,694 shares during the period. Resona Asset Management Co. Ltd.’s holdings in American Electric Power were worth $19,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Brighton Jones LLC grew 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 worth $978,000 after acquiring an additional 1,095 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of American Electric Power by 460.1% during the first quarter. Penserra Capital Management LLC now owns 7,808 shares of the company’s stock valued at $852,000 after purchasing an additional 6,414 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of American Electric Power by 5.7% in the 1st quarter. Brown Advisory Inc. now owns 21,930 shares of the company’s stock valued at $2,396,000 after purchasing an additional 1,191 shares during the period. Stratos Investment Management LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at $251,000. Finally, Greenleaf Trust increased its stake in American Electric Power by 4.2% in the 1st quarter. Greenleaf Trust now owns 10,152 shares of the company’s stock worth $1,109,000 after purchasing an additional 406 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of American Electric Power from $128.00 to $133.00 in a research note on Thursday, October 30th. Morgan Stanley upped their price target on shares of American Electric Power from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Citigroup lifted their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. LADENBURG THALM/SH SH cut their target price on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. Finally, Wells Fargo & Company raised their target price on American Electric Power from $132.00 to $139.00 in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Insider Transactions at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’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 completion of the sale, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is currently owned by insiders.

American Electric Power Stock Performance

AEP stock opened at $119.53 on Friday. The firm has a 50 day moving average of $113.53 and a two-hundred day moving average of $108.86. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $122.85. The company has a market capitalization of $63.98 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 3.22 and a beta of 0.52. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.95 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.2%. American Electric Power’s dividend payout ratio is currently 55.39%.

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.