ING Groep NV Grows Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• ING Groep NV significantly increased its holdings in American Electric Power Company by 83.0% in the first quarter, now owning approximately 0.07% of the company valued at $38 million.
• Recent insider trading has seen executives Quinton S. Lies and David Matthew Feinberg sell substantial shares, indicating a decrease in their ownership by over 51% and 43% respectively.
• American Electric Power reported a strong quarterly performance, with $1.43 earnings per share, exceeding analyst expectations of $1.27, and revenue up by 11.1% year-over-year.

ING Groep NV boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 83.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 348,428 shares of the company's stock after buying an additional 157,997 shares during the period. ING Groep NV owned approximately 0.07% of American Electric Power worth $38,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EQ Wealth Advisors LLC purchased 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 position in shares of American Electric Power during the 4th quarter valued at approximately $28,000. Bank of New Hampshire acquired a new position in American Electric Power during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at about $33,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of American Electric Power during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Trading Down 0.3%

Shares of NASDAQ:AEP traded down $0.35 during mid-day trading on Friday, reaching $112.45. 1,469,441 shares of the company were exchanged, compared to its average volume of 3,605,466. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. 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's 50-day simple moving average is $105.52 and its 200 day simple moving average is $104.43. The firm has a market cap of $60.14 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.01 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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

Wall Street Analyst Weigh In

AEP has been the subject of a number of research analyst reports. Citigroup increased their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Scotiabank raised their target price 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. Wells Fargo & Company increased their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. UBS Group upped their target price on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets lifted their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $111.29.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred 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 owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company'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 sale, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by corporate insiders.

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.