49 Wealth Management LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

49 Wealth Management LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,849 shares of the company's stock, valued at approximately $421,000.

Other large investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its position in shares of American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after purchasing an additional 430 shares during the last quarter. Ritholtz Wealth Management bought a new position in American Electric Power during the first quarter valued at about $262,000. Robertson Stephens Wealth Management LLC bought a new position in American Electric Power during the first quarter valued at about $205,000. GAMMA Investing LLC increased its stake in American Electric Power by 24.5% during the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after acquiring an additional 3,867 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in American Electric Power by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

NASDAQ AEP traded down $0.70 during trading hours on Friday, reaching $105.34. 2,473,878 shares of the company's stock were exchanged, compared to its average volume of 3,226,904. The stock has a market cap of $56.27 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.42. American Electric Power Company, Inc. has a one year low of $89.84 and a one year high of $110.48. The firm has a fifty day moving average of $103.00 and a 200-day moving average of $102.25. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42.

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, topping analysts' consensus estimates 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 return on equity of 11.68% and a net margin of 13.73%. American Electric Power's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.27 EPS. On average, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio is 71.68%.

Wall Street Analyst Weigh In

AEP has been the topic of several research reports. Guggenheim boosted their price target on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $108.31.

Insider Buying and Selling at American Electric Power

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

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.