Bessemer Group Inc. Has $192.83 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Bessemer Group Inc. lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4,567.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,764,677 shares of the company's stock after purchasing an additional 1,726,868 shares during the quarter. Bessemer Group Inc. owned about 0.33% of American Electric Power worth $192,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AEP. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power in the first quarter worth $25,000. Bank of New Hampshire acquired a new stake in American Electric Power in the first quarter worth about $28,000. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter worth about $28,000. Finally, Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth approximately $32,000. Institutional investors own 75.24% of the company's stock.

Insider Activity at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated 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 now owns 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was 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 at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated 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 now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents 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. Insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research analyst reports. Bank of America upped their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Barclays raised their target price on 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. UBS Group boosted their price target on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research report on Friday, June 6th. Wells Fargo & Company lifted 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 note on Wednesday, May 7th. Finally, Raymond James Financial assumed coverage on shares of American Electric Power in a report on Friday, June 13th. They set an "outperform" rating and a $115.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of "Hold" and a consensus price target of $108.31.

American Electric Power Stock Up 0.9%

American Electric Power stock traded up $0.94 during mid-day trading on Thursday, hitting $102.35. The company's stock had a trading volume of 3,001,676 shares, compared to its average volume of 3,202,923. American Electric Power Company, Inc. has a 52-week low of $86.83 and a 52-week high of $110.48. The company has a market cap of $54.68 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The firm's 50 day moving average is $103.83 and its 200 day moving average is $101.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results 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 net margin of 13.73% and a return on equity of 11.68%. 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 firm earned $1.27 earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

American Electric Power 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.