Croban Purchases Shares of 9,775 American Electric Power Company, Inc. (NASDAQ:AEP)

Croban purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,775 shares of the company's stock, valued at approximately $1,068,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of American Electric Power by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after acquiring an additional 763,813 shares during the period. GQG Partners LLC raised its holdings in shares of American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after acquiring an additional 543,054 shares during the period. Geode Capital Management LLC raised its holdings in shares of American Electric Power by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock worth $1,178,174,000 after acquiring an additional 283,311 shares during the period. Invesco Ltd. raised its holdings in shares of American Electric Power by 9.1% during the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock worth $793,510,000 after acquiring an additional 716,229 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of American Electric Power by 1.2% during the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock worth $649,983,000 after acquiring an additional 85,756 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on AEP shares. UBS Group boosted their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. Citigroup boosted their price objective on shares of 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 boosted their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" 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 company an "outperform" rating in a report on Monday, April 21st. Finally, Morgan Stanley reduced their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $108.31.

Insider Buying and Selling

In related news, 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 transaction of $1,041,277.88. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 over the last 90 days. Insiders own 0.07% of the company's stock.

American Electric Power Trading Down 0.7%

NASDAQ:AEP traded down $0.70 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 company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $56.27 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.42. The business has a fifty day moving average of $103.04 and a 200-day moving average of $102.17. American Electric Power Company, Inc. has a 52-week low of $89.84 and a 52-week high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. The business's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect 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 was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.53%. American Electric Power's payout ratio is 71.68%.

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.