Madison Asset Management LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Madison Asset Management LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,850 shares of the company's stock, valued at approximately $311,000.

Other institutional investors have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC purchased a new stake in shares of American Electric Power in the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at about $28,000. Bank of New Hampshire purchased a new stake in shares of American Electric Power in the 1st quarter valued at about $28,000. Park Square Financial Group LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at about $39,000. Finally, North Capital Inc. purchased a new stake in shares of American Electric Power in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AEP shares. Citigroup raised 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. Wells Fargo & Company upped their target price on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets upped their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, Barclays upped their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $108.31.

American Electric Power Stock Up 0.8%

Shares of American Electric Power stock traded up $0.82 during trading on Friday, reaching $109.79. The company's stock had a trading volume of 2,282,337 shares, compared to its average volume of 2,699,015. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The company has a market cap of $58.65 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.89 and a beta of 0.42. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $110.51. The company has a 50-day simple moving average of $103.77 and a two-hundred day simple moving average of $103.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.39%. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Insider Activity at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was 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 directly owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Over the last quarter, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is owned by company insiders.

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.