New York State Teachers Retirement System Sells 10,380 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

New York State Teachers Retirement System trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,293 shares of the company's stock after selling 10,380 shares during the period. New York State Teachers Retirement System owned 0.09% of American Electric Power worth $51,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in American Electric Power during the fourth quarter worth $220,983,000. Lazard Asset Management LLC raised its holdings in shares of American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after buying an additional 2,165,888 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of American Electric Power by 13,499.5% during the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after buying an additional 2,134,404 shares during the last quarter. Bessemer Group Inc. boosted its stake in American Electric Power by 4,567.3% in the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock valued at $192,827,000 after buying an additional 1,726,868 shares in the last quarter. Finally, Cohen & Steers Inc. acquired a new stake in American Electric Power in the fourth quarter valued at about $121,605,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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 value of $1,041,277.88. Following the completion of the sale, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the sale, the executive vice president 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. Over the last ninety days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

AEP has been the subject of a number of research reports. Bank of America increased their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. UBS Group increased their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research note on Friday, June 6th. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Raymond James Financial began coverage on American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target for the company. Finally, Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One investment 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $108.31.

American Electric Power Trading Up 0.1%

Shares of NASDAQ AEP traded up $0.15 during trading on Thursday, reaching $103.41. The company had a trading volume of 1,617,334 shares, compared to its average volume of 3,207,657. The stock has a market cap of $55.24 billion, a P/E ratio of 19.92, a PEG ratio of 2.77 and a beta of 0.42. The company's fifty day moving average price is $103.43 and its 200-day moving average price is $101.65. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 12 month low of $86.83 and a 12 month high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly 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 analysts' expectations of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 EPS. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

American Electric Power 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.