Concurrent Investment Advisors LLC Purchases 12,289 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Concurrent Investment Advisors LLC increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 55.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,539 shares of the company's stock after purchasing an additional 12,289 shares during the quarter. Concurrent Investment Advisors LLC's holdings in American Electric Power were worth $3,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in American Electric Power in the 1st quarter valued at approximately $25,000. Bank of New Hampshire acquired a new stake in American Electric Power in the 1st quarter valued at approximately $28,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power in the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power in the 4th quarter valued at approximately $28,000. Finally, Fairway Wealth LLC acquired a new stake in American Electric Power in the 4th quarter valued at approximately $32,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays raised their price objective 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. Morgan Stanley reduced their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Raymond James Financial assumed coverage on American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective for the company. BMO Capital Markets raised their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, Bank of America raised their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, American Electric Power currently has an average rating of "Hold" and an average target price of $108.31.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president directly owned 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 document filed with the SEC, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 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 disclosure for this sale can be found here. Over the last three months, insiders sold 34,314 shares of company stock valued at $3,508,293. Insiders own 0.07% of the company's stock.

American Electric Power Trading Up 0.8%

Shares of AEP stock traded up $0.78 on Wednesday, reaching $104.74. 2,115,301 shares of the stock were exchanged, compared to its average volume of 3,615,895. The stock has a market cap of $55.95 billion, a PE ratio of 20.18, a P/E/G ratio of 2.77 and a beta of 0.42. American Electric Power Company, Inc. has a one year low of $87.51 and a one 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. The stock has a 50 day moving average price of $103.15 and a 200 day moving average price of $102.06.

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, topping analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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 $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.55%. American Electric Power's payout ratio is 71.68%.

American Electric Power 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.