Aigen Investment Management LP Invests $577,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Aigen Investment Management LP has invested approximately $577,000 in American Electric Power Company (NASDAQ:AEP) by acquiring 5,277 shares.
• Recent institutional investor activity shows significant increases in holdings, with Lazard Asset Management raising theirs by 51%, and GAMMA Investing increasing by 13,499.5% during the first quarter.
• AEP's stock pricing has been revised upwards by several analysts, with price targets ranging from $111.00 to $116.00, indicating a generally positive outlook for the company's stock performance.

Aigen Investment Management LP bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,277 shares of the company's stock, valued at approximately $577,000.

Several other institutional investors also recently modified their holdings of the business. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at approximately $28,000. Bank of New Hampshire purchased a new stake in shares of American Electric Power during the 1st quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of American Electric Power during the 1st quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of American Electric Power during the 1st quarter valued at approximately $35,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Citigroup upped their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Scotiabank boosted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, UBS Group raised their price target on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.29.

American Electric Power Trading Down 0.2%

AEP traded down $0.25 during trading on Thursday, hitting $112.86. 2,230,746 shares of the stock traded hands, compared to its average volume of 3,595,063. The firm has a market capitalization of $60.36 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The firm has a 50-day moving average of $106.29 and a 200 day moving average of $104.83. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping 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 analyst estimates of $4.85 billion. During the same period in the prior year, the business earned $1.25 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's dividend payout ratio is 54.39%.

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 shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated 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 transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 over the last 90 days. Company insiders own 0.07% of the company's stock.

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.