Chevy Chase Trust Holdings LLC Purchases 83,090 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Chevy Chase Trust Holdings LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 999,383 shares of the company's stock after acquiring an additional 83,090 shares during the period. Chevy Chase Trust Holdings LLC owned 0.19% of American Electric Power worth $109,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power during the 4th quarter valued at $25,000. EQ Wealth Advisors LLC purchased a new stake in shares of American Electric Power in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at about $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the first quarter valued at about $28,000. Finally, Fairway Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analysts Set New Price Targets

AEP has been the subject of several research analyst reports. Raymond James Financial assumed coverage on shares of American Electric Power in a report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective for the company. Barclays increased their target price on 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. UBS Group lifted their price target on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley decreased their price objective on 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 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.com, the company presently has an average rating of "Hold" and a consensus target price of $108.31.

American Electric Power Stock Down 1.8%

Shares of NASDAQ:AEP traded down $1.87 on Wednesday, hitting $101.41. 2,181,422 shares of the company traded hands, compared to its average volume of 3,191,734. The stock has a 50 day simple moving average of $103.92 and a 200-day simple moving average of $101.33. 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 company has a market cap of $54.17 billion, a PE ratio of 19.54, a PEG ratio of 2.74 and a beta of 0.42. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current 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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power 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 completion of the sale, the executive vice president now directly owns 10,274 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 over the last quarter. 0.07% of the stock is currently owned by insiders.

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.