Pacer Advisors Inc. Has $7.13 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Pacer Advisors Inc. reduced its holdings in American Electric Power Company by 25.6%, selling 22,439 shares, bringing their total shares owned to 65,253, valued at approximately $7.13 million.
• Insider selling was notable, with two executives selling a total of 18,199 shares, which represents significant reductions in their respective positions.
• The company recently declared a quarterly dividend of $0.93 per share, with an annualized yield of 3.39%, set to be paid on September 10th.

Pacer Advisors Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 25.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,253 shares of the company's stock after selling 22,439 shares during the period. Pacer Advisors Inc.'s holdings in American Electric Power were worth $7,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. raised its holdings in shares of American Electric Power by 4.2% during the 1st quarter. Assetmark Inc. now owns 35,771 shares of the company's stock worth $3,909,000 after acquiring an additional 1,433 shares during the period. Navellier & Associates Inc. acquired a new position in American Electric Power in the 1st quarter valued at $301,000. Cetera Investment Advisers raised its holdings in American Electric Power by 10.7% in the first quarter. Cetera Investment Advisers now owns 208,894 shares of the company's stock valued at $22,826,000 after acquiring an additional 20,148 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of American Electric Power by 1.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 57,865 shares of the company's stock valued at $6,323,000 after buying an additional 682 shares during the period. Finally, Gilbert & Cook Inc. grew its holdings in shares of American Electric Power by 3.1% during the first quarter. Gilbert & Cook Inc. now owns 3,945 shares of the company's stock valued at $431,000 after purchasing an additional 117 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the 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 owned 10,274 shares of the company's stock, valued at $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. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Price Performance

Shares of American Electric Power stock traded down $0.36 on Thursday, hitting $112.89. The company had a trading volume of 1,645,612 shares, compared to its average volume of 3,571,264. The business has a 50-day simple moving average of $104.17 and a 200-day simple moving average of $103.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The company has a market cap of $60.31 billion, a PE ratio of 21.73, a PEG ratio of 2.90 and a beta of 0.42. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $114.23.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 annualized dividend and a yield of 3.30%. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AEP shares. Guggenheim raised their price target 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. Wells Fargo & Company increased their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Citigroup raised their price target 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. Barclays lifted 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. Finally, Raymond James Financial restated an "outperform" rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average target price of $110.07.

American Electric Power 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.