Axxcess Wealth Management LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,141 shares of the company's stock after purchasing an additional 2,969 shares during the quarter. Axxcess Wealth Management LLC's holdings in American Electric Power were worth $4,605,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in 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 purchasing an additional 2,165,888 shares during the period. GAMMA Investing LLC increased its holdings in 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 valued at $234,954,000 after acquiring an additional 2,134,404 shares in the last quarter. Bessemer Group Inc. increased its holdings in American Electric Power by 4,567.3% during the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock valued at $192,827,000 after acquiring an additional 1,726,868 shares in the last quarter. Cohen & Steers Inc. purchased a new position in American Electric Power during the 4th quarter valued at about $121,605,000. Finally, Bank of America Corp DE grew its holdings in shares of American Electric Power by 27.5% during the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after buying an additional 1,105,317 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
Analysts Set New Price Targets
AEP has been the topic of a number of analyst reports. Barclays increased 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 report on Tuesday, April 22nd. UBS Group raised their target price on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. BMO Capital Markets raised their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Raymond James Financial started coverage on shares of American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target for the company. Finally, Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One 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. According to data from MarketBeat, American Electric Power currently has a consensus rating of "Hold" and an average target price of $108.31.
View Our Latest Stock Analysis on American Electric Power
American Electric Power Price Performance
American Electric Power stock traded up $1.30 during mid-day trading on Thursday, reaching $106.04. 2,482,890 shares of the company's stock traded hands, compared to its average volume of 3,227,779. The company has a market cap of $56.65 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.76 and a beta of 0.42. The stock has a 50 day moving average of $103.07 and a two-hundred day moving average of $102.07. 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 $88.61 and a 12-month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power's revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share 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 issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.51%. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.
Insider Transactions at American Electric Power
In other news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred 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 directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the 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 transaction, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 over the last quarter. Insiders own 0.07% of the company's stock.
About American Electric Power
(
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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