GF Fund Management CO. LTD. lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,798 shares of the company's stock after selling 4,023 shares during the quarter. GF Fund Management CO. LTD.'s holdings in American Electric Power were worth $18,554,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $220,983,000. Lazard Asset Management LLC raised its stake in shares of American Electric Power by 51.0% during the 4th 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 raised its stake in shares of 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. Bessemer Group Inc. raised its stake in shares of American Electric Power by 4,567.3% during the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after purchasing an additional 1,726,868 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $121,605,000. Institutional investors and hedge funds own 75.24% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Bank of America upped their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Citigroup upped their price objective on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Finally, BMO Capital Markets increased their price target on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $108.31.
Get Our Latest Analysis on American Electric Power
American Electric Power Stock Performance
AEP stock traded up $0.31 during trading hours on Monday, hitting $104.17. 2,703,877 shares of the stock were exchanged, compared to its average volume of 3,221,665. 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 has a market capitalization of $55.65 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.76 and a beta of 0.42. The company has a 50-day simple moving average of $103.29 and a two-hundred day simple moving average of $101.96. American Electric Power Company, Inc. has a 12 month low of $86.83 and a 12 month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is currently 71.68%.
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 value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 in the last 90 days. 0.07% of the stock is owned by company insiders.
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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