OLD Republic International Corp Has $40.35 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

OLD Republic International Corp boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 369,300 shares of the company's stock after acquiring an additional 3,000 shares during the period. OLD Republic International Corp owned 0.07% of American Electric Power worth $40,353,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in American Electric Power by 1.5% in 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 during the period. GQG Partners LLC raised its position in shares of American Electric Power by 3.7% in the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after acquiring an additional 543,054 shares during the period. Geode Capital Management LLC raised its position in shares of American Electric Power by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after acquiring an additional 283,311 shares during the period. Invesco Ltd. grew 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 purchasing an additional 716,229 shares during the period. Finally, Royal Bank of Canada grew its holdings in American Electric Power by 1.2% during the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after purchasing an additional 85,756 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of American Electric Power in a report on Friday, June 13th. They issued an "outperform" rating and a $115.00 target price on the stock. BMO Capital Markets raised 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. Citigroup boosted their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Bank of America boosted their target price on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and an average target price of $108.31.

American Electric Power Stock Up 1.2%

Shares of NASDAQ AEP traded up $1.30 during midday trading on Thursday, reaching $106.04. The company's stock had a trading volume of 2,482,740 shares, compared to its average volume of 3,222,272. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a fifty-two week low of $87.51 and a fifty-two week high of $110.48. The stock has a market capitalization of $56.65 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.76 and a beta of 0.42. The stock has a 50 day simple moving average of $103.07 and a 200-day simple moving average of $102.07.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio is currently 71.68%.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the 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 completion of the sale, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 completion of the sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by company insiders.

About American Electric Power

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.