American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,121 shares of the company's stock after acquiring an additional 6,235 shares during the quarter. Pinnacle Financial Partners Inc's holdings in American Electric Power were worth $11,132,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Clarius Group LLC lifted its stake in American Electric Power by 2.5% in the first quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after purchasing an additional 95 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in American Electric Power by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock valued at $223,000 after acquiring an additional 100 shares during the period. Marcum Wealth LLC grew its position in American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after acquiring an additional 101 shares during the last quarter. SouthState Corp increased its stake in American Electric Power by 1.6% in the fourth quarter. SouthState Corp now owns 6,611 shares of the company's stock worth $610,000 after purchasing an additional 102 shares during the period. Finally, Ascent Group LLC lifted its position in shares of American Electric Power by 0.4% during the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Bank of America increased their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Guggenheim lifted their price objective 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. BMO Capital Markets boosted their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, 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 price target on the stock. One investment 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $108.31.

Insider Transactions at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on 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 owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the sale, the executive vice president directly 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 disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 in the last 90 days. Company insiders own 0.07% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $1.13 during trading on Wednesday, hitting $103.26. The stock had a trading volume of 3,258,910 shares, compared to its average volume of 3,209,208. The stock has a 50-day simple moving average of $103.50 and a two-hundred day simple moving average of $101.64. The stock has a market capitalization of $55.16 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42. American Electric Power Company, Inc. has a 12-month low of $86.83 and a 12-month high of $110.48. 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 (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.60%. American Electric Power's payout ratio is currently 71.68%.

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.