Benjamin Edwards Inc. Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Benjamin Edwards Inc. sold 77.1% of its shares in American Electric Power, dropping its holdings to 14,655 shares, worth approximately $1.6 million as per recent SEC filings.
• A significant number of institutional investors, including Kingswood Wealth Advisors and GAMMA Investing, have increased their stakes in American Electric Power during the first quarter.
• The company reported quarterly earnings of $1.43 per share, exceeding analyst expectations, along with a revenue of $5.09 billion, indicating a growth of 11.1% compared to the same quarter last year.

Benjamin Edwards Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 77.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,655 shares of the company's stock after selling 49,459 shares during the quarter. Benjamin Edwards Inc.'s holdings in American Electric Power were worth $1,601,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AEP. EQ Wealth Advisors LLC acquired a new stake in American Electric Power during the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power during the 4th quarter worth approximately $28,000. Bank of New Hampshire acquired a new stake in American Electric Power during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in American Electric Power during the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in American Electric Power during the 1st quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEP has been the subject of a number of recent research reports. UBS Group increased their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Mizuho set a $116.00 target price on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Barclays increased their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Raymond James Financial reissued an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.29.

American Electric Power Price Performance

NASDAQ AEP traded down $0.25 during mid-day trading on Thursday, hitting $112.86. The stock had a trading volume of 2,230,746 shares, compared to its average volume of 3,739,387. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The company has a market cap of $60.36 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 3.00 and a beta of 0.40. The company has a 50 day simple moving average of $106.51 and a 200 day simple moving average of $104.91. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business posted $1.25 EPS. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast 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 will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power 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 owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,041,277.88. Following the completion of the sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock valued at $3,508,293 in the last three months. 0.07% of the stock is currently owned by company 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.