Maxi Investments CY Ltd Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Maxi Investments CY Ltd has acquired 15,139 shares of American Electric Power Company, valued at approximately $1.65 million, representing their new position in the stock.
• Company insiders, including EVP Quinton S. Lies and David Matthew Feinberg, sold a total of 34,314 shares of American Electric Power stock recently, indicating a significant decrease in their ownership.
• American Electric Power announced a quarterly dividend of $0.93, which will yield approximately 3.2%, with a dividend payout ratio of 54.39%.

Maxi Investments CY Ltd acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,139 shares of the company's stock, valued at approximately $1,654,000.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its position in American Electric Power by 9.1% during the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after purchasing an additional 716,229 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of American Electric Power by 1.2% in the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after acquiring an additional 85,756 shares in the last quarter. Lazard Asset Management LLC lifted its stake in American Electric Power by 51.0% in the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after acquiring an additional 2,165,888 shares during the period. Bank of America Corp DE grew its holdings in American Electric Power by 27.5% during the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after acquiring an additional 1,105,317 shares in the last quarter. Finally, Northern Trust Corp increased its position in American Electric Power by 6.0% during the 4th quarter. Northern Trust Corp now owns 4,851,264 shares of the company's stock valued at $447,432,000 after purchasing an additional 272,997 shares during the period. Institutional investors own 75.24% of the company's stock.

American Electric Power Price Performance

NASDAQ:AEP traded down $1.23 during trading hours on Friday, hitting $112.50. 2,706,902 shares of the stock were exchanged, compared to its average volume of 3,614,643. The firm's fifty day moving average price is $105.52 and its 200 day moving average price is $104.43. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The company has a market cap of $60.16 billion, a P/E ratio of 16.45, a P/E/G ratio of 3.01 and a beta of 0.40. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS 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. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio is presently 54.39%.

Insiders Place Their Bets

In other news, EVP David Matthew Feinberg sold 8,058 shares of the 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 completion of the sale, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were 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 $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Corporate insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AEP shares. Guggenheim boosted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets boosted their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Barclays lifted their price target on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $111.29.

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.