Cassaday & Co Wealth Management LLC Acquires New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cassaday & Co Wealth Management LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,288 shares of the company's stock, valued at approximately $578,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its holdings in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 valued at $234,954,000 after purchasing an additional 2,134,404 shares during the period. Bessemer Group Inc. increased its stake in shares of American Electric Power by 4,567.3% in the first 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. Cohen & Steers Inc. acquired a new position in shares of American Electric Power during the fourth quarter valued at approximately $121,605,000. Finally, Bank of America Corp DE grew its position in American Electric Power by 27.5% in 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 during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

Shares of AEP traded up $1.58 during mid-day trading on Tuesday, reaching $110.12. The company had a trading volume of 2,015,442 shares, compared to its average volume of 3,235,865. The company's 50 day simple moving average is $102.92 and its 200 day simple moving average is $102.87. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $110.51. 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 has a market capitalization of $58.83 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.85 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released 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. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the business posted $1.27 EPS. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is 71.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AEP. Guggenheim lifted their target price 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. Morgan Stanley dropped their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets boosted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Raymond James Financial started coverage on shares of American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 price target for the company. Finally, Wells Fargo & Company boosted their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, American Electric Power presently has an average rating of "Hold" and a consensus target price of $108.31.

Insider Buying and Selling

In other news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction 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 $991,683.44. The trade was a 51.22% 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. Company insiders own 0.07% of the company's stock.

American Electric Power Company 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.