Cetera Investment Advisers Has $22.83 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Cetera Investment Advisers increased its holdings in American Electric Power by 10.7%, acquiring an additional 20,148 shares, bringing its total to 208,894 shares valued at approximately $22.83 million.
• Analysts have raised their price targets for American Electric Power, with BMO Capital Markets and Guggenheim setting targets at $115, and most analysts currently giving the stock an average rating of "Hold" with a price target of $108.31.
• The company recently announced a quarterly dividend of $0.93, representing an annualized yield of 3.39%, with a current payout ratio of 71.68%.

Cetera Investment Advisers grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,894 shares of the company's stock after purchasing an additional 20,148 shares during the quarter. Cetera Investment Advisers' holdings in American Electric Power were worth $22,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of American Electric Power by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after acquiring an additional 283,311 shares during the period. Invesco Ltd. boosted its position in shares of American Electric Power by 9.1% during the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock worth $793,510,000 after purchasing an additional 716,229 shares in the last quarter. Royal Bank of Canada boosted its position in shares of American Electric Power by 1.2% during the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock worth $649,983,000 after purchasing an additional 85,756 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after buying an additional 2,165,888 shares during the last quarter. Finally, Bank of America Corp DE raised its stake 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 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.

Insider Transactions at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last quarter. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AEP shares. Guggenheim boosted 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 note on Wednesday, May 7th. Barclays raised their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Citigroup boosted their price objective on 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, UBS Group increased their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $110.07.

American Electric Power Price Performance

American Electric Power stock traded down $0.64 during midday trading on Thursday, hitting $112.61. The company's stock had a trading volume of 1,559,947 shares, compared to its average volume of 3,570,419. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The stock's 50-day moving average price is $104.17 and its 200-day moving average price is $103.69. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $114.23. The company has a market capitalization of $60.15 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.90 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.30%. American Electric Power's dividend payout ratio is 71.68%.

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.