Diversify Advisory Services LLC Increases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Diversify Advisory Services LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 206.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,558 shares of the company's stock after purchasing an additional 5,766 shares during the period. Diversify Advisory Services LLC's holdings in American Electric Power were worth $928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AEP. Kingswood Wealth Advisors LLC raised its stake in shares of American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after purchasing an additional 430 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of American Electric Power in the first quarter worth approximately $262,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of American Electric Power in the first quarter worth approximately $205,000. GAMMA Investing LLC raised its stake in shares of American Electric Power by 24.5% in the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after purchasing an additional 3,867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of American Electric Power by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock worth $38,848,000 after purchasing an additional 73,488 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 1.4%

AEP stock traded up $1.47 during midday trading on Friday, hitting $107.40. The company's stock had a trading volume of 4,443,910 shares, compared to its average volume of 3,241,118. The company has a market cap of $57.37 billion, a PE ratio of 20.69, a P/E/G ratio of 2.85 and a beta of 0.42. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $110.48. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42. The firm's 50-day moving average is $102.92 and its 200-day moving average is $102.79.

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 (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 analyst estimates of $5.33 billion. During the same quarter in the prior year, the business posted $1.27 EPS. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 3.46%. 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 American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm'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 of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on AEP shares. Morgan Stanley decreased their price target 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. Citigroup increased their price objective on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. UBS Group increased their price objective on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. Raymond James Financial initiated coverage on American Electric Power in a report on Friday, June 13th. They set an "outperform" rating and a $115.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, American Electric Power presently has an average rating of "Hold" and a consensus target price of $108.31.

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.