Confluence Wealth Services Inc. Purchases 2,976 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Confluence Wealth Services Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 58.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,077 shares of the company's stock after buying an additional 2,976 shares during the quarter. Confluence Wealth Services Inc.'s holdings in American Electric Power were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AEP. Brighton Jones LLC lifted its position in American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after buying an additional 1,095 shares during the last quarter. New York Life Investment Management LLC lifted its position in American Electric Power by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 71,568 shares of the company's stock valued at $6,601,000 after purchasing an additional 613 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in American Electric Power by 2.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 91,900 shares of the company's stock valued at $8,476,000 after purchasing an additional 2,400 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in American Electric Power by 26.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 33,743 shares of the company's stock valued at $3,112,000 after purchasing an additional 7,066 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in American Electric Power in the fourth quarter valued at approximately $149,000. Institutional investors own 75.24% of the company's stock.

Insider Buying and Selling

In other news, EVP Quinton S. Lies sold 10,141 shares of the 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 sale, the executive vice president now directly owns 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares in the company, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on AEP shares. Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. UBS Group boosted their price objective 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. Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on 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. Finally, Morgan Stanley lowered 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $108.31.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $102.46 on Friday. 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 $54.73 billion, a PE ratio of 19.74, a P/E/G ratio of 2.72 and a beta of 0.42. The business has a 50 day moving average of $103.61 and a 200 day moving average of $101.48. American Electric Power Company, Inc. has a 52 week low of $86.83 and a 52 week high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm'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 earned $1.27 earnings per share. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $0.93 dividend. 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 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.

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