American Electric Power Company, Inc. $AEP Stock Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 494,740 shares of the company’s stock after selling 52,869 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of American Electric Power worth $51,334,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of American Electric Power by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock valued at $5,711,519,000 after acquiring an additional 579,175 shares during the last quarter. Wellington Management Group LLP raised its position in shares of American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after purchasing an additional 4,323,569 shares during the period. GQG Partners LLC lifted its holdings in shares of American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after purchasing an additional 4,570,941 shares during the last quarter. Northern Trust Corp boosted its position in shares of 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 purchasing an additional 386,518 shares during the period. Finally, Nuveen LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at $568,042,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Down 1.0%

AEP opened at $121.48 on Friday. The firm has a market cap of $64.88 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The business has a 50 day moving average price of $114.73 and a 200 day moving average price of $109.39. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $123.31.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm 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 was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. American Electric Power’s payout ratio is 55.39%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Jefferies Financial Group lifted their price target on American Electric Power from $116.00 to $128.00 and gave the company a “hold” rating in a report on Thursday, October 16th. BMO Capital Markets set a $126.00 target price on American Electric Power in a research note on Thursday, October 30th. Mizuho raised their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, LADENBURG THALM/SH SH lowered their price target on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Insider Activity 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 on Friday, September 12th. The shares were 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 approximately $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. The trade was a 15.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,006 shares of company stock worth $1,243,522. Company insiders own 0.07% of the company’s stock.

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.