American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 19.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,101 shares of the company's stock after purchasing an additional 28,717 shares during the quarter. QRG Capital Management Inc.'s holdings in American Electric Power were worth $19,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the fourth quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $28,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power in the first quarter worth $28,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

Shares of AEP opened at $102.90 on Monday. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The stock has a market cap of $54.97 billion, a PE ratio of 18.38, a P/E/G ratio of 2.97 and a beta of 0.42. The firm has a 50-day simple moving average of $104.17 and a two-hundred day simple moving average of $101.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same period last year, the business earned $1.27 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now owns 26,298 shares in the company, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president now owns 9,658 shares of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,256 shares of company stock worth $2,688,472. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research reports. Barclays increased their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Raymond James started coverage on shares of American Electric Power in a report on Friday. They set an "outperform" rating and a $115.00 price objective on the stock. Morgan Stanley decreased 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. BMO Capital Markets increased 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, UBS Group lifted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research note on Friday, June 6th. 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. Based on data from MarketBeat.com, American Electric Power has an average rating of "Hold" and a consensus target price 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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.