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New York State Common Retirement Fund Reduces Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

American Electric Power logo with Utilities background

New York State Common Retirement Fund lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,612 shares of the company's stock after selling 19,258 shares during the quarter. New York State Common Retirement Fund owned 0.10% of American Electric Power worth $60,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power in the 4th quarter worth about $25,000. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the first quarter valued at approximately $28,000. Finally, Lee Danner & Bass Inc. bought a new position in American Electric Power during the fourth quarter valued at approximately $38,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president owned 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 in the last three months. Insiders own 0.07% of the company's stock.

American Electric Power Price Performance

Shares of NASDAQ AEP traded down $0.32 during mid-day trading on Monday, reaching $105.02. The company's stock had a trading volume of 2,968,573 shares, compared to its average volume of 3,600,782. 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 52 week low of $89.84 and a 52 week high of $110.48. The stock has a fifty day moving average of $103.00 and a two-hundred day moving average of $102.39. The firm has a market capitalization of $56.10 billion, a PE ratio of 20.24, a P/E/G ratio of 2.80 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, May 9th. American Electric Power's payout ratio is currently 71.68%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research reports. Guggenheim boosted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup upped their price objective 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. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley cut their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Barclays upped their price target on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has an average rating of "Hold" and a consensus price target of $108.31.

Check Out Our Latest Stock Analysis on AEP

American Electric Power Company Profile

(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.

See Also

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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