Eurizon Capital SGR S.p.A. Sells 21,579 Shares of American Electric Power Company, Inc. $AEP

Eurizon Capital SGR S.p.A. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 572,234 shares of the company’s stock after selling 21,579 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in American Electric Power were worth $67,984,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in American Electric Power in the second quarter worth about $6,980,601,000. Bank of America Corp DE purchased a new position in American Electric Power in the 2nd quarter worth approximately $1,678,638,000. GQG Partners LLC bought a new position in American Electric Power in the 2nd quarter valued at approximately $1,404,094,000. Legal & General Group Plc bought a new position in American Electric Power in the 2nd quarter valued at approximately $680,638,000. Finally, Bank of New York Mellon Corp bought a new position in American Electric Power in the 2nd quarter valued at approximately $495,495,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ AEP opened at $128.91 on Friday. American Electric Power Company, Inc. has a 52 week low of $112.54 and a 52 week high of $140.58. The firm has a market capitalization of $70.20 billion, a P/E ratio of 20.83, a PEG ratio of 2.65 and a beta of 0.46. The company has a quick ratio of 0.40, a current ratio of 0.51 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $124.43 and a 200-day moving average price of $128.40.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.19. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.55 billion. American Electric Power had a net margin of 14.21% and a return on equity of 10.52%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 earnings per share. Equities research analysts anticipate that American Electric Power Company, Inc. will post 6.44 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be given a $0.97 dividend. The ex-dividend date is Tuesday, November 10th. This is a boost from American Electric Power’s previous quarterly dividend of $0.95. This represents a $3.88 annualized dividend and a yield of 3.0%. American Electric Power’s payout ratio is 62.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on AEP. JPMorgan Chase & Co. reduced their target price on American Electric Power from $140.00 to $135.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Truist Financial decreased their price target on American Electric Power from $146.00 to $139.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Jefferies Financial Group set a $153.00 price target on American Electric Power in a report on Tuesday, November 3rd. TD Cowen reaffirmed a “buy” rating on shares of American Electric Power in a research report on Wednesday, September 9th. Finally, BMO Capital Markets reduced their price objective on American Electric Power from $139.00 to $135.00 and set a “market perform” rating for the company in a report on Monday, October 19th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.83.

Insiders Place Their Bets

In other news, CAO Kate Dixon sold 2,000 shares of American Electric Power stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the chief accounting officer owned 15,856 shares in the company, valued at $1,982,000. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company’s stock.

About American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) is an electric utility holding company based in Columbus, Ohio. Through its regulated utility subsidiaries, it generates or purchases electricity and delivers power to residential, commercial and industrial customers. AEP’s operations include electric generation, transmission and distribution, with service territories across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.