Public Employees Retirement System of Ohio Buys Shares of 241,537 American Electric Power Company, Inc. (NASDAQ:AEP)

Public Employees Retirement System of Ohio bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 241,537 shares of the company's stock, valued at approximately $22,277,000.

A number of other institutional investors have also modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power in the fourth quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter worth $28,000. Fairway Wealth LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in American Electric Power during the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new position in American Electric Power in the fourth quarter valued at about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AEP. Guggenheim increased their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays increased their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Bank of America raised their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of "Hold" and an average target price of $105.69.

Insiders Place Their Bets

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 shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.46 during midday trading on Friday, hitting $102.99. The stock had a trading volume of 708,348 shares, compared to its average volume of 3,196,465. The company has a market capitalization of $55.02 billion, a PE ratio of 18.39, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48. The stock has a 50 day moving average price of $104.87 and a two-hundred day moving average price of $100.66. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, equities 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's payout ratio is currently 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.