Michigan Retirement System increases AEP shares to 144,358 worth $12.66m, with institutional investors holding 75.24% and Q2 earnings exceeding expectations.

The State of Michigan Retirement System acquired 300 additional shares of American Electric Power Company (AEP) in Q2, increasing its holdings to 144,358 shares worth $12.66m. Institutional investors hold 75.24% of the company's stock, and the firm reported Q2 earnings of $1.25/share, exceeding expectations and leading to an increased dividend of $0.88/share. Several brokerages have raised their ratings and price targets for AEP, including Morgan Stanley at $102 and BMO Capital Markets at $104.

August 29, 2024
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