NorthCrest Asset Manangement LLC Acquires 2,673 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

NorthCrest Asset Manangement LLC lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 11.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,880 shares of the company's stock after acquiring an additional 2,673 shares during the period. NorthCrest Asset Manangement LLC's holdings in American Electric Power were worth $2,828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New Hampshire acquired a new position in shares of American Electric Power during the 1st quarter valued at about $28,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power during the fourth quarter worth approximately $28,000. Fairway Wealth LLC purchased a new position in American Electric Power during the fourth quarter worth approximately $32,000. Finally, Kestra Investment Management LLC purchased a new position in American Electric Power during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 8,057 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares in the company, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,256 shares of company stock worth $2,688,472 in the last quarter. Insiders own 0.07% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.12 during trading on Friday, hitting $102.90. 2,388,673 shares of the stock were exchanged, compared to its average volume of 3,199,799. The company has a market capitalization of $54.97 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The company's fifty day simple moving average is $104.17 and its 200-day simple moving average is $101.12.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.27 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio is currently 71.68%.

Wall Street Analyst Weigh In

AEP has been the subject of several research reports. Bank of America boosted their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Guggenheim upped their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Raymond James initiated coverage on American Electric Power in a research note on Friday. They set an "outperform" rating and a $115.00 price objective on the stock. Finally, UBS Group upped their target price on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research report on Friday, June 6th. One research 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $108.31.

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.