Man Group plc decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 88.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,572 shares of the company's stock after selling 375,246 shares during the period. Man Group plc's holdings in American Electric Power were worth $4,572,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in American Electric Power by 1.5% during the fourth 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 raised its holdings in American Electric Power by 3.7% during the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after buying an additional 543,054 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 valued at $1,178,174,000 after buying an additional 283,311 shares in the last quarter. Invesco Ltd. raised its holdings in American Electric Power by 9.1% during the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after buying an additional 716,229 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in American Electric Power by 51.0% during the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after buying an additional 2,165,888 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
American Electric Power Stock Down 0.8%
AEP stock opened at $102.93 on Thursday. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48. The company has a market cap of $54.98 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The business's 50-day simple moving average is $105.24 and its 200 day simple moving average is $100.43. 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 earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the business earned $1.27 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AEP. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Barclays lifted their price objective on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Morgan Stanley set a $114.00 price objective on American Electric Power and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Guggenheim lifted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $105.77.
View Our Latest Stock Report on American Electric Power
Insider Buying and Selling
In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred 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 sale, the executive vice president now directly owns 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
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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