Jennison Associates LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Jennison Associates LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,193,007 shares of the company's stock after buying an additional 247,745 shares during the period. Jennison Associates LLC owned about 0.22% of American Electric Power worth $130,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEP. Vanguard Group Inc. grew its stake in shares of American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock valued at $4,767,425,000 after buying an additional 763,813 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of American Electric Power by 3.7% during the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after buying an additional 543,054 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Electric Power by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock worth $1,178,174,000 after buying an additional 283,311 shares during the last quarter. Invesco Ltd. raised its stake in shares of American Electric Power by 9.1% in the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after purchasing an additional 716,229 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of American Electric Power by 1.2% in the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after purchasing an additional 85,756 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Up 1.4%

AEP stock traded up $1.47 during midday trading on Friday, hitting $107.40. The company's stock had a trading volume of 4,443,910 shares, compared to its average volume of 3,241,118. The company has a market cap of $57.37 billion, a PE ratio of 20.69, a P/E/G ratio of 2.85 and a beta of 0.42. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $110.48. 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's 50-day moving average is $102.92 and its 200-day moving average is $102.79.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. On average, equities research 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of analyst reports. Raymond James Financial initiated coverage on 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. Citigroup upped 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. UBS Group increased their target price on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. 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 report on Wednesday, May 7th. 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 report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, American Electric Power presently has an average rating of "Hold" and a consensus price target of $108.31.

Insider Buying and Selling at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated 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 in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

American Electric Power Company 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.