3,140 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Biltmore Family Office LLC

Key Points

• Biltmore Family Office LLC has acquired 3,140 shares of American Electric Power Company, Inc. (NASDAQ:AEP), valued at approximately $343,000.
• Several other major investors have significantly increased their stakes in AEP, with Lazard Asset Management LLC boosting its position by 51.0% in the last quarter.
• American Electric Power recently reported earnings of $1.43 EPS for the quarter, exceeding estimates and demonstrating an 11.1% year-over-year revenue increase.

Biltmore Family Office LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,140 shares of the company's stock, valued at approximately $343,000.

Several other hedge funds have also recently added to or reduced their stakes in AEP. EQ Wealth Advisors LLC acquired a new position in American Electric Power in the first quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power in the fourth quarter valued at about $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power in the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the first quarter worth about $33,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power in the first quarter worth about $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the firm'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 of the company's stock, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Quinton S. Lies sold 10,141 shares of the firm'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 sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 over the last three months. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AEP shares. BMO Capital Markets increased their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Scotiabank increased their target price on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Mizuho set a $116.00 price target on American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company increased their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $111.29.

American Electric Power Stock Down 0.0%

NASDAQ AEP traded down $0.01 during trading hours on Tuesday, hitting $111.99. 2,576,390 shares of the company traded hands, compared to its average volume of 3,626,442. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. The stock has a market capitalization of $59.89 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 2.97 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The business's 50-day moving average is $106.06 and its 200-day moving average is $104.78.

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, beating 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 business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the business earned $1.25 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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

American Electric Power 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.