Fri Sep 20 09:11:17 UTC 2024: ## HSBC Cuts Stake in American Electric Power, While Other Investors Show Interest

**New York, NY – September 20, 2024** – HSBC Holdings PLC reduced its position in American Electric Power Company, Inc. (AEP) by 24.7% during the second quarter, according to the firm’s recent SEC filing. The fund now owns 916,793 shares, representing a 0.17% stake in the company valued at $80.46 million.

While HSBC trimmed its holdings, other hedge funds showed interest in AEP. HHM Wealth Advisors LLC increased its stake by 57.2% in the second quarter, while Frazier Financial Advisors LLC, Denali Advisors LLC, Rise Advisors LLC, and YHB Investment Advisors Inc. all purchased new positions in the company.

Institutional investors currently own 75.24% of AEP’s outstanding shares.

AEP’s stock opened at $101.74 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48, and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $53.63 billion.

American Electric Power recently declared a quarterly dividend of $0.88, paid on September 10th. The annualized dividend is $3.52, representing a yield of 3.46%.

Analysts continue to offer mixed opinions on AEP’s future. Barclays upgraded its target price from $91.00 to $96.00, while Morgan Stanley increased its target price from $95.00 to $102.00. Bank of America, however, downgraded its price target from $97.00 to $98.00. Currently, two analysts rate AEP as a “sell,” six as a “hold,” and six as a “buy.”

American Electric Power Company, Inc. is a public utility holding company engaged in the generation, transmission, and distribution of electricity for both retail and wholesale customers.

**Disclaimer:** This news article is based on publicly available information and does not constitute financial advice.

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