Legacy Private Trust Co. Buys Shares of 3,250 American Electric Power Company, Inc. (NASDAQ:AEP)

Legacy Private Trust Co. purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,250 shares of the company's stock, valued at approximately $355,000.

A number of other institutional investors have also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power during the 4th quarter worth about $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AEP has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price objective 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. Citigroup raised their price objective on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Bank of America lifted their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Wells Fargo & Company boosted their price target 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. Finally, Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $105.69.

American Electric Power Price Performance

AEP traded down $0.35 during trading on Tuesday, hitting $102.83. The company's stock had a trading volume of 2,418,858 shares, compared to its average volume of 3,197,064. The firm's 50 day moving average price is $104.86 and its two-hundred day moving average price is $100.88. 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 Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The stock has a market capitalization of $54.93 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.62%. American Electric Power's payout ratio is currently 71.68%.

Insider Transactions at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction on 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 completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.