Financial Counselors Inc. Has $9.88 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Financial Counselors Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,429 shares of the company's stock after purchasing an additional 24,865 shares during the period. Financial Counselors Inc.'s holdings in American Electric Power were worth $9,881,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AEP. Kingswood Wealth Advisors LLC increased 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 acquiring an additional 430 shares during the last quarter. Ritholtz Wealth Management acquired a new position in American Electric Power during the first quarter worth $262,000. Robertson Stephens Wealth Management LLC acquired a new position in American Electric Power during the first quarter worth $205,000. GAMMA Investing LLC increased its position in American Electric Power by 24.5% during the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after buying an additional 3,867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in American Electric Power by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock worth $38,848,000 after buying an additional 73,488 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded down $0.70 during mid-day trading on Friday, hitting $105.34. The company had a trading volume of 2,473,878 shares, compared to its average volume of 3,226,904. 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 business's 50-day simple moving average is $103.00 and its 200-day simple moving average is $102.25. American Electric Power Company, Inc. has a 12 month low of $89.84 and a 12 month high of $110.48. The firm has a market cap of $56.27 billion, a P/E ratio of 20.30, a PEG ratio of 2.82 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results 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 net margin of 13.73% and a return on equity of 11.68%. The firm had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter last year, the company earned $1.27 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts predict 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 dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.53%. American Electric Power's dividend payout ratio is 71.68%.

Analyst Upgrades and Downgrades

Several research firms have commented on AEP. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company increased their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Raymond James Financial started coverage on American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target on the stock. Finally, Bank of America raised their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $108.31.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on 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 $1,045,276.76. This trade represents a 43.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's 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 completion of the sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. 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. Insiders own 0.07% of the company's stock.

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.