HMV Wealth Advisors LLC trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,820 shares of the company's stock after selling 3,505 shares during the quarter. HMV Wealth Advisors LLC's holdings in American Electric Power were worth $636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Raymond James Financial Inc. bought a new stake in American Electric Power in the fourth quarter worth $220,983,000. Lazard Asset Management LLC raised its position in shares of American Electric Power by 51.0% in 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 during the last quarter. GAMMA Investing LLC boosted its stake in American Electric Power by 13,499.5% in 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. Cohen & Steers Inc. purchased a new position in American Electric Power in the fourth quarter worth about $121,605,000. Finally, Bank of America Corp DE raised its holdings in American Electric Power by 27.5% in the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after buying an additional 1,105,317 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Price Performance
AEP stock traded down $0.12 during midday trading on Friday, hitting $102.90. The company's stock had a trading volume of 2,388,673 shares, compared to its average volume of 3,199,799. The firm has a market capitalization of $54.97 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a 50 day moving average of $104.17 and a two-hundred day moving average of $101.12. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.
American Electric Power (NASDAQ:AEP - Get Free Report) last released 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. The firm had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.62%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.
Insider Activity
In related 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 transaction, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the transaction, the executive vice president now directly owns 26,298 shares of the company's stock, valued at $2,707,116.12. The trade was a 23.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,256 shares of company stock worth $2,688,472. Insiders own 0.07% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on 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. Barclays boosted their target price on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Raymond James initiated coverage on shares of American Electric Power in a report on Friday. They set an "outperform" rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $108.31.
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About American Electric Power
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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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