Arizona State Retirement System Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Arizona State Retirement System increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,271 shares of the company's stock after purchasing an additional 3,949 shares during the period. Arizona State Retirement System's holdings in American Electric Power were worth $17,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nikulski Financial Inc. bought a new stake in American Electric Power in the first quarter worth $210,000. Ballentine Partners LLC lifted its holdings in shares of American Electric Power by 12.3% during the first quarter. Ballentine Partners LLC now owns 14,076 shares of the company's stock valued at $1,538,000 after purchasing an additional 1,537 shares in the last quarter. WealthTrust Asset Management LLC bought a new position in shares of American Electric Power during the first quarter valued at $221,000. Gateway Wealth Partners LLC lifted its holdings in shares of American Electric Power by 30.4% during the first quarter. Gateway Wealth Partners LLC now owns 3,220 shares of the company's stock valued at $352,000 after purchasing an additional 750 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of American Electric Power by 2.2% during the first quarter. Xponance Inc. now owns 73,660 shares of the company's stock valued at $8,049,000 after purchasing an additional 1,597 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

American Electric Power stock traded down $0.09 during midday trading on Monday, reaching $105.25. 311,564 shares of the stock traded hands, compared to its average volume of 3,579,815. The stock's fifty day moving average is $103.00 and its 200-day moving average is $102.39. American Electric Power Company, Inc. has a 12 month low of $89.84 and a 12 month high of $110.48. The stock has a market cap of $56.22 billion, a P/E ratio of 20.28, a PEG ratio of 2.80 and a beta of 0.42. 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 (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results 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 return on equity of 11.68% and a net margin of 13.73%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.53%. American Electric Power's dividend payout ratio is presently 71.68%.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm'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 trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the 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 sale, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays upped their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. BMO Capital Markets increased their target price on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Raymond James Financial assumed coverage on American Electric Power in a report on Friday, June 13th. They issued an "outperform" rating and a $115.00 target price on the stock. Finally, Citigroup increased their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has an average rating of "Hold" and an average price target of $108.31.

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.