American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Allen Capital Group LLC

Allen Capital Group LLC increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,993 shares of the company's stock after purchasing an additional 3,380 shares during the period. Allen Capital Group LLC's holdings in American Electric Power were worth $3,714,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after acquiring an additional 1,095 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of American Electric Power in the fourth quarter worth $149,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of American Electric Power in the fourth quarter worth $25,000. Choate Investment Advisors acquired a new position in shares of American Electric Power in the fourth quarter worth $419,000. Finally, Corient Private Wealth LLC grew its stake in shares of American Electric Power by 201.6% in the fourth quarter. Corient Private Wealth LLC now owns 153,142 shares of the company's stock worth $14,124,000 after acquiring an additional 303,916 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Price Performance

Shares of AEP stock traded up $1.48 during trading hours on Friday, hitting $107.41. The company's stock had a trading volume of 1,943,495 shares, compared to its average volume of 3,221,641. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $110.48. The business has a fifty day moving average of $102.86 and a 200-day moving average of $102.61. The stock has a market cap of $57.38 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 2.80 and a beta of 0.42. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio is currently 71.68%.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on 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 sale, the executive vice president owned 9,658 shares of the company's stock, valued at $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The stock was 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. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Guggenheim upped their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial began coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective for the company. Barclays upped their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Finally, UBS Group upped their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, American Electric Power currently has a consensus 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.