Illinois Municipal Retirement Fund Sells 13,786 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Illinois Municipal Retirement Fund lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,220 shares of the company's stock after selling 13,786 shares during the quarter. Illinois Municipal Retirement Fund's holdings in American Electric Power were worth $13,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the fourth quarter valued at approximately $25,000. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power in the fourth quarter valued at $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the 1st quarter valued at $28,000. Finally, Fairway Wealth LLC bought a new position in shares of American Electric Power during the 4th quarter worth $32,000. Institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AEP shares. Wells Fargo & Company boosted their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Raymond James Financial initiated coverage on shares of 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. Bank of America upped their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley reduced their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Barclays increased 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. 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 MarketBeat, American Electric Power has a consensus rating of "Hold" and an average price target of $108.31.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $1.25 during trading on Monday, hitting $103.71. The stock had a trading volume of 1,500,882 shares, compared to its average volume of 3,200,648. American Electric Power Company, Inc. has a 12 month low of $86.83 and a 12 month high of $110.48. The business's 50-day moving average is $103.61 and its 200 day moving average is $101.55. 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 cap of $55.40 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.72 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the company posted $1.27 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the sale, the executive vice president now owns 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently owned by corporate 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.