GF Fund Management CO. LTD. Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

GF Fund Management CO. LTD. bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 173,821 shares of the company's stock, valued at approximately $16,032,000.

Other hedge funds also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power in the fourth quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in American Electric Power in the fourth quarter valued at approximately $32,000. Kestra Investment Management LLC purchased a new position in American Electric Power in the fourth quarter valued at approximately $35,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter worth approximately $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their target price 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. Citigroup raised their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. 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. Finally, Barclays raised their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $105.69.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated 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 transaction, the executive vice president now owns 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

American Electric Power Trading Up 0.7%

AEP traded up $0.76 during midday trading on Thursday, hitting $102.44. The company's stock had a trading volume of 737,969 shares, compared to its average volume of 3,197,159. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm has a market cap of $54.72 billion, a P/E ratio of 18.28, a PEG ratio of 2.97 and a beta of 0.45. The firm has a 50-day moving average price of $104.90 and a two-hundred day moving average price of $100.60. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, research analysts anticipate 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 will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio is currently 71.68%.

About American Electric Power

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.