Czech National Bank lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,464 shares of the company's stock after buying an additional 6,993 shares during the quarter. Czech National Bank's holdings in American Electric Power were worth $13,382,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in American Electric Power in the 4th quarter valued at approximately $220,983,000. Lazard Asset Management LLC increased its holdings in American Electric Power by 51.0% in the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. GAMMA Investing LLC increased its holdings in American Electric Power by 13,499.5% during the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after purchasing an additional 2,134,404 shares in the last quarter. Cohen & Steers Inc. purchased a new position in American Electric Power in the 4th quarter valued at approximately $121,605,000. Finally, Bank of America Corp DE boosted its position in American Electric Power by 27.5% during the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after buying an additional 1,105,317 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.
Insider Buying and Selling
In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The sale 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 American Electric Power stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the sale, the executive vice president now owns 26,298 shares of the company's stock, valued at approximately $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on AEP shares. Guggenheim lifted their price target 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 reduced their price objective 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. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Citigroup lifted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets upped their price target on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $105.69.
View Our Latest Report on American Electric Power
American Electric Power Stock Down 0.1%
NASDAQ AEP traded down $0.10 on Thursday, reaching $101.75. 330,728 shares of the stock traded hands, compared to its average volume of 3,186,074. The company has a market cap of $54.36 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The company has a fifty day moving average price of $104.72 and a 200-day moving average price of $100.90.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The firm's quarterly revenue was up 8.7% on a year-over-year basis. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.66%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.
About American Electric Power
(
Free Report)
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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