Resona Asset Management Co. Ltd. Lowers Stock Holdings in American Electric Power Company, Inc. $AEP

Resona Asset Management Co. Ltd. lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 179,167 shares of the company’s stock after selling 6,586 shares during the period. Resona Asset Management Co. Ltd.’s holdings in American Electric Power were worth $20,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock valued at $82,000 after purchasing an additional 89 shares during the last quarter. Gilbert & Cook Inc. lifted its position in American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after purchasing an additional 91 shares during the last quarter. Eagle Strategies LLC grew its stake in shares of American Electric Power by 1.7% in the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after buying an additional 94 shares in the last quarter. Cascade Investment Group Inc. increased its holdings in shares of American Electric Power by 1.9% in the 3rd quarter. Cascade Investment Group Inc. now owns 5,190 shares of the company’s stock worth $584,000 after buying an additional 98 shares during the last quarter. Finally, Graves Light Lenhart Wealth Inc. raised its position in shares of American Electric Power by 1.5% during the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 6,870 shares of the company’s stock valued at $773,000 after buying an additional 99 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the transaction, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $116.63 on Friday. 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’s fifty day moving average is $117.56 and its two-hundred day moving average is $114.54. American Electric Power Company, Inc. has a 52 week low of $97.05 and a 52 week high of $124.80. The company has a market capitalization of $62.29 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.79 and a beta of 0.63.

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

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power’s payout ratio is presently 55.39%.

Analysts Set New Price Targets

AEP has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on American Electric Power from $128.00 to $133.00 in a research note on Thursday, October 30th. Williams Trading set a $137.00 target price on American Electric Power in a research report on Thursday, December 18th. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of American Electric Power from $126.00 to $123.00 and set a “market perform” rating for the company in a research note on Tuesday, January 13th. Finally, Jefferies Financial Group raised shares of American Electric Power from a “hold” rating to a “buy” rating and increased their target price for the company from $128.00 to $137.00 in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.