Geneos Wealth Management Inc. Purchases 13,045 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Geneos Wealth Management Inc. raised its stake in American Electric Power Company by 122.9% after acquiring an additional 13,045 shares, bringing its total holdings to 23,663 shares valued at approximately $2.586 million.
• A number of other institutional investors also increased their positions in American Electric Power, resulting in institutional ownership rising to 75.24% of the company’s stock.
• American Electric Power recently reported a quarterly EPS of $1.43, surpassing expectations, with revenue reaching $5.09 billion, a 11.1% increase from the previous year.

Geneos Wealth Management Inc. increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 122.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,663 shares of the company's stock after buying an additional 13,045 shares during the period. Geneos Wealth Management Inc.'s holdings in American Electric Power were worth $2,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEP. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at about $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Up 0.4%

NASDAQ:AEP traded up $0.44 during trading hours on Friday, reaching $113.58. 4,925,406 shares of the stock were exchanged, compared to its average volume of 3,067,441. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $114.38. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.31. The firm has a 50 day moving average of $104.61 and a 200 day moving average of $103.95. The stock has a market cap of $60.74 billion, a PE ratio of 16.61, a PEG ratio of 3.00 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio is presently 54.39%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Guggenheim upped their price target on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday. UBS Group increased their target price on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research note on Thursday. Finally, BMO Capital Markets increased their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $111.29.

Insider Activity at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were 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 of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by insiders.

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.