American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC increased its holdings in American Electric Power by 42.3%, now owning 15,692 shares valued at approximately $1.7 million after purchasing an additional 4,665 shares.
• A number of analysts have recently upgraded their price targets for American Electric Power, with Wells Fargo raising its target from $107 to $114 and Barclays from $105 to $111, indicating positive sentiment towards the stock.
• American Electric Power announced a quarterly dividend of $0.93 per share, resulting in an annualized dividend yield of 3.2%, with the ex-dividend date set for August 8th.

Plan Group Financial LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 42.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,692 shares of the company's stock after buying an additional 4,665 shares during the quarter. Plan Group Financial LLC's holdings in American Electric Power were worth $1,715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AEP. EQ Wealth Advisors LLC purchased a new stake in shares of American Electric Power during the 1st quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power during the 4th quarter worth about $28,000. Bank of New Hampshire purchased a new stake in American Electric Power during the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in American Electric Power in the first quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Performance

AEP stock traded down $1.23 during trading on Friday, hitting $112.50. The company had a trading volume of 2,706,902 shares, compared to its average volume of 3,614,643. The firm has a 50-day moving average price of $105.52 and a 200-day moving average price of $104.43. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The firm has a market cap of $60.16 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.01 and a beta of 0.40. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AEP. Morgan Stanley reduced their price objective on shares of 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. Scotiabank lifted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Citigroup upped their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group raised their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $111.29.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction 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 transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% 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 Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction 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. This trade represents 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. Insiders own 0.07% of the company's stock.

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.