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American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Independent Advisor Alliance

American Electric Power logo with Utilities background

Key Points

  • Independent Advisor Alliance increased its stake in American Electric Power by 8.1% during the first quarter, holding 38,340 shares worth approximately $4.19 million.
  • Recent insider trading saw EVP Quinton S. Lies sell 10,141 shares, a 51.22% decrease in his position, while David Matthew Feinberg sold 8,058 shares, a 43.96% decrease.
  • The company announced a quarterly dividend of $0.93 per share, representing an annualized yield of 3.3%, with a payout ratio of 54.39%.
  • Need better tools to track American Electric Power? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Independent Advisor Alliance raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,340 shares of the company's stock after purchasing an additional 2,877 shares during the quarter. Independent Advisor Alliance's holdings in American Electric Power were worth $4,189,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new stake in American Electric Power during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power during the 4th quarter valued at approximately $28,000. Bank of New Hampshire acquired a new stake in American Electric Power during the 1st quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in American Electric Power during the 1st quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in American Electric Power during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Insiders Place Their Bets

In other news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction on 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 sale, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last three months. Company insiders own 0.07% of the company's stock.

American Electric Power Trading Down 0.4%

Shares of AEP stock opened at $112.00 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The stock has a fifty day moving average of $105.88 and a two-hundred day moving average of $104.73. The firm has a market capitalization of $59.90 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (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 during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend 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 Analysts Forecast Growth

Several research analysts have recently commented on AEP shares. Raymond James Financial reiterated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. BMO Capital Markets lifted their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Morgan Stanley decreased their target price 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. Barclays lifted their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Mizuho set a $116.00 target price on American Electric Power and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, American Electric Power currently has an average rating of "Hold" and an average target price of $111.29.

Get Our Latest Stock Report on American Electric Power

American Electric Power Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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.

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