American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 51.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,416,474 shares of the company's stock after purchasing an additional 2,165,888 shares during the period. American Electric Power accounts for about 0.9% of Lazard Asset Management LLC's investment portfolio, making the stock its 26th biggest position. Lazard Asset Management LLC owned approximately 1.21% of American Electric Power worth $591,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its position in shares of American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock worth $5,310,000 after buying an additional 3,288 shares in the last quarter. Secure Asset Management LLC lifted its stake in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company's stock worth $2,206,000 after acquiring an additional 4,370 shares during the period. Grove Bank & Trust grew its holdings in American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company's stock worth $654,000 after acquiring an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new position in American Electric Power during the 4th quarter valued at about $419,000. Finally, Principal Financial Group Inc. increased its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company's stock valued at $65,667,000 after purchasing an additional 19,081 shares during the period. Institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. Bank of America lifted their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Citigroup lifted their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Barclays upped their price objective on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $114.00 price target on shares of American Electric Power and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $105.77.

American Electric Power Stock Down 1.0%

Shares of AEP traded down $0.97 during mid-day trading on Wednesday, hitting $98.59. 5,206,998 shares of the company traded hands, compared to its average volume of 3,188,159. The business has a 50 day moving average of $105.42 and a 200 day moving average of $100.26. The company has a market capitalization of $52.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the business posted $1.27 EPS. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, May 9th. American Electric Power's payout ratio is 71.68%.

About American Electric Power

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.