Navellier & Associates Inc. Invests $301,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Navellier & Associates Inc. acquired 2,800 shares of American Electric Power Company, valued at approximately $301,000, indicating growing institutional interest in the company's stock.
• Recent insider transactions showed significant sales, with executives Quinton S. Lies and David Matthew Feinberg selling 10,141 and 8,058 shares respectively, raising questions about insider confidence.
• American Electric Power announced a quarterly dividend of $0.93 per share, with a dividend yield of 3.39%, contributing to the company's appeal for income-focused investors.

Navellier & Associates Inc. bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,800 shares of the company's stock, valued at approximately $301,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter worth $25,000. Bank of New Hampshire acquired a new position in shares of American Electric Power in the first quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new position in American Electric Power during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in American Electric Power during the first quarter worth $35,000. Finally, North Capital Inc. acquired a new position in shares of American Electric Power in the 1st quarter valued at $39,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction 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 directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $819,820.92. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AEP shares. Raymond James Financial assumed coverage on American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 target price for the company. Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley lowered their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective 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, Citigroup boosted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $108.31.

American Electric Power Stock Up 3.4%

Shares of AEP stock traded up $3.67 on Wednesday, reaching $112.89. 3,218,995 shares of the company were exchanged, compared to its average volume of 3,544,321. The company has a market cap of $60.31 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.87 and a beta of 0.42. The company has a 50-day moving average of $103.96 and a 200-day moving average of $103.63. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $113.66.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. American Electric Power's revenue for the quarter was up 11.1% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.30%. American Electric Power's dividend payout ratio (DPR) is 71.68%.

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.