Allspring Global Investments Holdings LLC Buys 183,637 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Allspring Global Investments Holdings LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,827,986 shares of the company's stock after purchasing an additional 183,637 shares during the quarter. American Electric Power comprises 0.9% of Allspring Global Investments Holdings LLC's holdings, making the stock its 8th largest position. Allspring Global Investments Holdings LLC owned approximately 0.90% of American Electric Power worth $523,209,000 at the end of the most recent quarter.

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

Insider Buying and Selling at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated 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 now owns 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated 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 now directly owns 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 over the last quarter. 0.07% of the stock is owned by company insiders.

American Electric Power Price Performance

Shares of AEP traded up $0.11 during trading hours on Friday, hitting $102.46. 3,451,134 shares of the stock were exchanged, compared to its average volume of 3,200,468. American Electric Power Company, Inc. has a 12-month low of $86.83 and a 12-month high of $110.48. The stock's 50-day moving average price is $103.61 and its two-hundred day moving average price is $101.48. The company has a market cap of $54.73 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company posted $1.27 EPS. The company's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AEP shares. Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. UBS Group lifted their price target on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. Bank of America upped their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Guggenheim upped their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $108.31.

American Electric Power Company 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.