Seven Grand Managers LLC Acquires New Shares in American Electric Power Company, Inc. $AEP

Key Points

• Seven Grand Managers LLC acquired 150,000 shares of American Electric Power Company, valued at approximately $16.39 million, making it the firm's 9th largest investment position.
• American Electric Power has received several positive upgrades from analysts, with price targets increased by multiple firms, reflecting a generally optimistic outlook on the stock.
• The company declared a quarterly dividend of $0.93 per share, representing an annualized yield of 3.3%, with a payout ratio of 54.39%.

Seven Grand Managers LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $16,390,000. American Electric Power comprises 3.8% of Seven Grand Managers LLC's portfolio, making the stock its 9th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. EQ Wealth Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power in the fourth quarter worth $28,000. Bank of New Hampshire bought a new position in American Electric Power during the first quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in American Electric Power during the first quarter worth $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power during the first quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

American Electric Power stock traded down $0.87 during trading hours on Friday, hitting $111.99. The stock had a trading volume of 2,353,573 shares, compared to its average volume of 3,632,893. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36. The stock's fifty day moving average is $106.71 and its two-hundred day moving average is $105.08. The stock has a market capitalization of $59.89 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 2.97 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Raymond James Financial reiterated an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Mizuho set a $116.00 price objective on American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. Barclays raised their price objective on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, 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 report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $111.29.

Insider Transactions at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. Insiders own 0.07% of the company's stock.

American Electric Power Company Profile

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.