Cambridge Investment Research Advisors Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,864 shares of the company's stock after buying an additional 11,067 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in American Electric Power were worth $15,392,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Clarius Group LLC raised its position in American Electric Power by 2.5% during the first quarter. Clarius Group LLC now owns 3,966 shares of the company's stock valued at $433,000 after buying an additional 95 shares during the period. Safeguard Investment Advisory Group LLC lifted its stake in shares of American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock valued at $223,000 after purchasing an additional 100 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after acquiring an additional 101 shares during the last quarter. SouthState Corp grew its holdings in American Electric Power by 1.6% during the fourth quarter. SouthState Corp now owns 6,611 shares of the company's stock valued at $610,000 after purchasing an additional 102 shares during the last quarter. Finally, Ascent Group LLC lifted its position in American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
Insider Buying and Selling
In related news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $101.49, for a total value of $817,806.42. Following the completion of the sale, the executive vice president now owns 18,332 shares of the company's stock, valued at approximately $1,860,514.68. This represents a 30.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Bank of America boosted their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. BMO Capital Markets upped their target price 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. Barclays upped their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley decreased 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 report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $108.31.
Read Our Latest Report on AEP
American Electric Power Price Performance
Shares of NASDAQ:AEP traded up $0.11 on Friday, hitting $102.46. The company's stock had a trading volume of 3,451,134 shares, compared to its average volume of 3,202,434. The company has a 50-day simple moving average of $103.61 and a 200 day simple moving average of $101.43. The company has a market capitalization of $54.73 billion, a PE ratio of 19.74, a PEG ratio of 2.72 and a beta of 0.42. American Electric Power Company, Inc. has a 1 year low of $86.83 and a 1 year high of $110.48. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share 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 the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business's revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.63%. American Electric Power's dividend payout ratio is 71.68%.
American Electric Power Company Profile
(
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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