Patrick Mauro Investment Advisor INC. Sells 26,930 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Patrick Mauro Investment Advisor INC. reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,869 shares of the company's stock after selling 26,930 shares during the period. American Electric Power makes up approximately 2.4% of Patrick Mauro Investment Advisor INC.'s investment portfolio, making the stock its 20th biggest position. Patrick Mauro Investment Advisor INC.'s holdings in American Electric Power were worth $4,356,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in shares of American Electric Power by 1.6% in the 1st quarter. Whittier Trust Co. now owns 85,319 shares of the company's stock worth $9,322,000 after acquiring an additional 1,372 shares in the last quarter. Lord & Richards Wealth Management LLC purchased a new position in shares of American Electric Power during the 1st quarter valued at about $99,000. Sumitomo Life Insurance Co. grew its stake in shares of American Electric Power by 1.4% during the first quarter. Sumitomo Life Insurance Co. now owns 8,392 shares of the company's stock valued at $917,000 after buying an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. grew its holdings in American Electric Power by 8.8% in the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 3,830 shares of the company's stock worth $419,000 after acquiring an additional 310 shares during the last quarter. Finally, Lokken Investment Group LLC purchased a new stake in American Electric Power in the first quarter worth about $230,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction dated Monday, May 19th. The stock was 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 in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power 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 transaction, the executive vice president directly 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. In the last 90 days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is owned by company insiders.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.44 during trading on Thursday, reaching $105.93. The company's stock had a trading volume of 2,270,978 shares, compared to its average volume of 3,226,779. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $110.48. The business has a 50 day moving average price of $102.85 and a 200-day moving average price of $102.52. The company has a market capitalization of $56.59 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released 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. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. American Electric Power's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.

Analyst Ratings Changes

Several brokerages recently commented on AEP. Citigroup lifted their price objective on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. BMO Capital Markets increased their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. UBS Group raised their target price 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. Finally, Morgan Stanley decreased their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $108.31.

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.