American Electric Power Company, Inc. (NASDAQ:AEP) Stock Position Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,141 shares of the company's stock after buying an additional 2,969 shares during the period. Axxcess Wealth Management LLC's holdings in American Electric Power were worth $4,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Court Place Advisors LLC boosted its position in shares of American Electric Power by 13.7% in the first quarter. Court Place Advisors LLC now owns 2,812 shares of the company's stock worth $307,000 after buying an additional 339 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of American Electric Power by 9.4% in the first quarter. Rehmann Capital Advisory Group now owns 7,139 shares of the company's stock worth $780,000 after buying an additional 616 shares during the period. Cornerstone Planning Group LLC boosted its holdings in American Electric Power by 328.0% in the first quarter. Cornerstone Planning Group LLC now owns 672 shares of the company's stock valued at $72,000 after purchasing an additional 515 shares during the last quarter. First National Bank & Trust Co. of Newtown purchased a new position in American Electric Power in the first quarter valued at about $224,000. Finally, Greenleaf Trust boosted its holdings in American Electric Power by 4.2% in the first quarter. Greenleaf Trust now owns 10,152 shares of the company's stock valued at $1,109,000 after purchasing an additional 406 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of American Electric Power stock traded down $0.90 on Friday, reaching $105.14. 905,208 shares of the company were exchanged, compared to its average volume of 3,218,728. 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's 50-day moving average is $103.04 and its two-hundred day moving average is $102.17. The firm has a market cap of $56.17 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 2.78 and a beta of 0.42. American Electric Power Company, Inc. has a 1-year low of $88.61 and a 1-year high of $110.48.

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

American Electric Power Dividend Announcement

The firm 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. This represents a $3.72 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is 71.68%.

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. UBS Group increased their price target on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. Raymond James Financial started coverage on American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note 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, American Electric Power has a consensus rating of "Hold" and an average target price of $108.31.

Insider Buying and Selling

In other American Electric Power news, 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 transaction of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the 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 transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 over the last three months. Corporate insiders own 0.07% of the company's stock.

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.