Mitsubishi UFJ Trust & Banking Corp Sells 799,097 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in American Electric Power Company by 23.8%, selling 799,097 shares, resulting in ownership of approximately 2.56 million shares, which is about 0.7% of its overall portfolio.
• Multiple institutional investors recently increased their holdings in American Electric Power, with Lazard Asset Management leading with a 51.0% increase in its position during the fourth quarter.
• American Electric Power recently reported a quarterly earnings per share (EPS) of $1.43, surpassing analysts' expectations, and has announced a $0.93 quarterly dividend to be paid in September.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,564,233 shares of the company's stock after selling 799,097 shares during the quarter. American Electric Power comprises approximately 0.7% of Mitsubishi UFJ Trust & Banking Corp's investment portfolio, making the stock its 18th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.48% of American Electric Power worth $280,194,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the 1st quarter valued at $25,000. Bank of New Hampshire bought a new stake in American Electric Power during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in American Electric Power during the 1st quarter valued at $33,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power during the 4th quarter valued at $28,000. Finally, IMA Advisory Services Inc. bought a new stake in American Electric Power during the 1st quarter valued at $35,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

American Electric Power stock traded up $1.42 during midday trading on Monday, reaching $115.00. The stock had a trading volume of 3,600,829 shares, compared to its average volume of 3,372,485. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.29. The firm's 50-day moving average price is $104.61 and its 200 day moving average price is $104.07. The firm has a market capitalization of $61.50 billion, a PE ratio of 16.81, a P/E/G ratio of 3.02 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. American Electric Power's dividend payout ratio is currently 54.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AEP. Barclays boosted their price target on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group lifted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday. Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Mizuho lifted their price objective on shares of American Electric Power from $109.00 to $116.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $111.29.

Insider Activity

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company's 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 completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,314 shares of company stock worth $3,508,293. Company insiders own 0.07% of the company's stock.

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.