Sequoia Financial Advisors LLC trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,747 shares of the company's stock after selling 5,661 shares during the period. Sequoia Financial Advisors LLC's holdings in American Electric Power were worth $10,134,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC raised its position in shares of American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after acquiring an additional 430 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $262,000. Robertson Stephens Wealth Management LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $205,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after purchasing an additional 73,488 shares in the last quarter. Finally, GQG Partners LLC raised its holdings in American Electric Power by 3.7% in the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after purchasing an additional 543,054 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Price Performance
Shares of NASDAQ:AEP traded up $0.11 during midday trading on Friday, hitting $102.46. The company's stock had a trading volume of 3,451,134 shares, compared to its average volume of 3,203,963. The business's 50 day simple moving average is $103.72 and its 200 day simple moving average is $101.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The company has a market cap of $54.73 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. American Electric Power's quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.63%. American Electric Power's payout ratio is 71.68%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Barclays lifted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. BMO Capital Markets upped their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial assumed coverage on shares of American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, American Electric Power presently has an average rating of "Hold" and an average price target of $108.31.
Check Out Our Latest Research Report on AEP
Insiders Place Their Bets
In other news, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 8,057 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now owns 26,298 shares in the company, valued at $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,314 shares of company stock valued at $3,508,293. Insiders own 0.07% of the company's stock.
American Electric Power Company 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.
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