Callan Family Office LLC Sells 5,138 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Callan Family Office LLC reduced its stake in American Electric Power by 64.5%, holding 2,828 shares worth $309,000 at the end of the first quarter.
• Recent analyst ratings show mixed opinions with target prices ranging from $109.00 to $116.00, while the consensus rating is currently "Hold".
• The company announced a quarterly dividend of $0.93 per share, resulting in an annualized yield of 3.3% for shareholders.

Callan Family Office LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 64.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,828 shares of the company's stock after selling 5,138 shares during the period. Callan Family Office LLC's holdings in American Electric Power were worth $309,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AEP. Nuveen LLC bought a new position in American Electric Power in the first quarter worth approximately $568,042,000. Lazard Asset Management LLC raised its position in American Electric Power by 51.0% in the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after acquiring an additional 2,165,888 shares during the period. GAMMA Investing LLC raised its position in American Electric Power by 13,499.5% in the first quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after acquiring an additional 2,134,404 shares during the period. Bessemer Group Inc. raised its position in shares of 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 purchasing an additional 1,726,868 shares during the period. Finally, Bank of America Corp DE raised its position in shares of American Electric Power by 27.5% during the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after purchasing an additional 1,105,317 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power 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 completion of the transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% 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.

American Electric Power Price Performance

AEP traded down $0.87 during trading on Friday, hitting $111.99. 2,353,573 shares of the company traded hands, compared to its average volume of 3,737,375. The company has a market cap of $59.89 billion, a PE ratio of 16.37, a P/E/G ratio of 2.97 and a beta of 0.40. The stock's 50-day simple moving average is $106.71 and its two-hundred day simple moving average is $105.04. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the company posted $1.25 EPS. The business's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.

Analyst Ratings Changes

AEP has been the topic of several recent analyst reports. UBS Group raised their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Morgan Stanley decreased their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Barclays raised their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Citigroup raised their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Mizuho set a $116.00 price objective on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $111.29.

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.