Golden State Wealth Management LLC Has $2.45 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Golden State Wealth Management LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 143.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,444 shares of the company's stock after acquiring an additional 13,208 shares during the quarter. Golden State Wealth Management LLC's holdings in American Electric Power were worth $2,453,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AEP. Raymond James Financial Inc. bought a new position in American Electric Power in the 4th quarter valued at $220,983,000. Lazard Asset Management LLC raised its position in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after purchasing an additional 2,165,888 shares during the last quarter. GAMMA Investing LLC raised its position in American Electric Power by 13,499.5% in the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock valued at $234,954,000 after purchasing an additional 2,134,404 shares during the last quarter. Bessemer Group Inc. raised its position in American Electric Power by 4,567.3% in the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock valued at $192,827,000 after purchasing an additional 1,726,868 shares during the last quarter. Finally, Cohen & Steers Inc. bought a new position in American Electric Power in the 4th quarter valued at $121,605,000. Institutional investors own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president now owns 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,314 shares of company stock worth $3,508,293. Insiders own 0.07% of the company's stock.

American Electric Power Trading Up 0.1%

American Electric Power stock traded up $0.11 during trading hours on Friday, hitting $102.46. The stock had a trading volume of 3,451,134 shares, compared to its average volume of 3,202,410. 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 stock has a market cap of $54.73 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.72 and a beta of 0.42. American Electric Power Company, Inc. has a one year low of $86.83 and a one year high of $110.48. The business's 50 day simple moving average is $103.61 and its 200-day simple moving average is $101.43.

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, beating analysts' consensus estimates 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 firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business's revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEP. Barclays lifted their price objective on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Morgan Stanley lowered their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. UBS Group lifted their target price on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research note on Friday, June 6th. BMO Capital Markets lifted their target price on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Finally, Citigroup lifted their target price 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $108.31.

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.