Armstrong Fleming & Moore Inc Invests $1.08 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Armstrong Fleming & Moore Inc purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,925 shares of the company's stock, valued at approximately $1,084,000. American Electric Power accounts for about 1.3% of Armstrong Fleming & Moore Inc's portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power during the 4th quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in American Electric Power during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in American Electric Power during the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in American Electric Power during the 4th quarter worth approximately $35,000. Institutional investors own 75.24% of the company's stock.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 26,298 shares of the company's stock, valued at approximately $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Guggenheim upped their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, BMO Capital Markets upped their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus price target of $105.69.

American Electric Power Trading Down 0.1%

AEP opened at $101.77 on Friday. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $104.57 and a 200-day moving average of $100.93. The stock has a market cap of $54.37 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the prior year, the company posted $1.27 earnings per share. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.

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.

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