American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Increased by OneAscent Financial Services LLC

OneAscent Financial Services LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 103.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,420 shares of the company's stock after buying an additional 5,303 shares during the quarter. OneAscent Financial Services LLC's holdings in American Electric Power were worth $1,130,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Elyxium Wealth LLC acquired a new position in shares of American Electric Power during the first quarter worth $246,000. Cassaday & Co Wealth Management LLC bought a new position in American Electric Power during the 1st quarter valued at $578,000. Kestra Private Wealth Services LLC grew its holdings in American Electric Power by 4.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 46,261 shares of the company's stock worth $5,055,000 after acquiring an additional 1,851 shares in the last quarter. Csenge Advisory Group grew its holdings in American Electric Power by 5.0% during the 1st quarter. Csenge Advisory Group now owns 8,710 shares of the company's stock worth $938,000 after acquiring an additional 413 shares in the last quarter. Finally, AMG National Trust Bank grew its holdings in American Electric Power by 1.5% during the 1st quarter. AMG National Trust Bank now owns 21,991 shares of the company's stock worth $2,403,000 after acquiring an additional 328 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

AEP traded up $0.68 on Thursday, reaching $109.57. The company had a trading volume of 641,513 shares, compared to its average volume of 3,547,306. The company has a fifty day moving average of $103.49 and a 200-day moving average of $103.07. The company has a market capitalization of $58.53 billion, a P/E ratio of 21.12, a PEG ratio of 2.92 and a beta of 0.42. 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 one year low of $89.91 and a one year high of $110.51.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. American Electric Power's revenue was up 8.7% compared to the same quarter last year. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is 71.68%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AEP. Citigroup raised their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group raised their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. BMO Capital Markets raised their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Guggenheim increased their target price 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. Finally, Raymond James Financial assumed coverage on shares of American Electric Power in a report on Friday, June 13th. They set an "outperform" rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and a consensus target price of $108.31.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the company'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 sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Insiders own 0.07% of the company's stock.

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.