Gulf International Bank UK Ltd Sells 10,944 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Gulf International Bank UK Ltd reduced its stake in American Electric Power Company by 26.0%, leaving it with 31,163 shares valued at approximately $3.4 million.
• American Electric Power reported an EPS of $1.43 for the most recent quarter, beating analyst estimates and achieving an 11.1% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.93 per share with a 3.3% yield, to be paid on September 10th to investors of record as of August 8th.

Gulf International Bank UK Ltd lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 26.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,163 shares of the company's stock after selling 10,944 shares during the period. Gulf International Bank UK Ltd's holdings in American Electric Power were worth $3,405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after buying an additional 1,095 shares in the last quarter. Advisors Capital Management LLC lifted its position in American Electric Power by 10.3% during the 4th quarter. Advisors Capital Management LLC now owns 4,192 shares of the company's stock worth $387,000 after buying an additional 391 shares in the last quarter. Mariner LLC lifted its position in American Electric Power by 7.7% during the 4th quarter. Mariner LLC now owns 165,903 shares of the company's stock worth $15,301,000 after buying an additional 11,818 shares in the last quarter. CreativeOne Wealth LLC lifted its position in American Electric Power by 10.3% during the 4th quarter. CreativeOne Wealth LLC now owns 9,934 shares of the company's stock worth $916,000 after buying an additional 926 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in American Electric Power during the 4th quarter worth about $1,193,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock worth $3,508,293. Insiders own 0.07% of the company's stock.

American Electric Power Trading Down 0.8%

AEP stock traded down $0.87 during mid-day trading on Friday, reaching $111.99. The company's stock had a trading volume of 2,353,573 shares, compared to its average volume of 3,737,375. The company has a market cap of $59.89 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.40. The business's 50 day moving average price is $106.71 and its 200 day moving average price is $105.04. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36.

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

American Electric Power Dividend Announcement

The firm also recently disclosed 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. 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 payout ratio is currently 54.39%.

Analyst Ratings Changes

Several analysts have weighed in on AEP shares. Mizuho set a $116.00 price objective on American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. UBS Group upped their price target on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets upped their price target 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $111.29.

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.