Grove Bank & Trust Trims Holdings in American Electric Power Company, Inc. $AEP

Grove Bank & Trust lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 73.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,878 shares of the company’s stock after selling 5,261 shares during the period. Grove Bank & Trust’s holdings in American Electric Power were worth $211,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in American Electric Power by 0.4% during the second quarter. Vanguard Group Inc. now owns 52,467,779 shares of the company’s stock worth $5,444,057,000 after purchasing an additional 197,998 shares in the last quarter. State Street Corp raised its holdings in shares of American Electric Power by 2.3% in the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after buying an additional 653,712 shares during the period. Geode Capital Management LLC lifted its stake in American Electric Power by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock worth $1,379,532,000 after acquiring an additional 285,000 shares in the last quarter. Invesco Ltd. boosted its holdings in American Electric Power by 5.9% during the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after acquiring an additional 432,441 shares during the period. Finally, Northern Trust Corp grew its position in American Electric Power by 8.0% in the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock valued at $572,332,000 after acquiring an additional 386,518 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Transactions at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president directly owned 5,676 shares of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,006 shares of company stock worth $1,883,522. Company insiders own 0.07% of the company’s stock.

American Electric Power Trading Down 1.0%

NASDAQ AEP opened at $114.57 on Wednesday. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $124.80. The firm has a 50 day moving average of $119.07 and a two-hundred day moving average of $111.91. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $61.19 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 3.02 and a beta of 0.61.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.American Electric Power’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s payout ratio is currently 55.39%.

Analysts Set New Price Targets

Several analysts have recently issued reports on AEP shares. Mizuho increased their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. LADENBURG THALM/SH SH increased their target price on shares of American Electric Power from $108.50 to $124.50 and gave the stock a “neutral” rating in a report on Thursday, November 20th. Evercore ISI restated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Jefferies Financial Group raised American Electric Power from a “hold” rating to a “buy” rating and upped their price objective for the stock from $128.00 to $137.00 in a research report on Monday, November 17th. Finally, UBS Group lifted their target price on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.62.

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.