Jefferies Financial Group Inc. cut its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 96.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,389 shares of the company's stock after selling 184,715 shares during the period. Jefferies Financial Group Inc.'s holdings in American Electric Power were worth $807,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its holdings in American Electric Power by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after buying an additional 430 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of American Electric Power in the 1st quarter valued at approximately $262,000. Robertson Stephens Wealth Management LLC acquired a new stake in American Electric Power during the first quarter worth $205,000. GAMMA Investing LLC raised its holdings in American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock valued at $2,150,000 after buying an additional 3,867 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated 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 approximately $1,045,276.76. This trade represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 in the last 90 days. 0.07% of the stock is owned by company insiders.
American Electric Power Price Performance
American Electric Power stock traded up $0.24 during mid-day trading on Thursday, reaching $113.73. The company had a trading volume of 3,312,649 shares, compared to its average volume of 3,620,046. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The company has a market capitalization of $60.82 billion, a P/E ratio of 18.73, a P/E/G ratio of 3.01 and a beta of 0.40. The stock's 50-day simple moving average is $105.29 and its 200-day simple moving average is $104.32. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.
American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's payout ratio is 54.39%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AEP shares. Wells Fargo & Company increased their target price 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. Mizuho increased their target price on American Electric Power from $109.00 to $116.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Raymond James Financial restated an "outperform" rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Scotiabank raised their price target on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, UBS Group upped their target price on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. 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. According to MarketBeat.com, American Electric Power presently has an average rating of "Hold" and a consensus price target of $111.29.
Get Our Latest Stock Analysis on American Electric Power
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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