Price Capital Management Inc. Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Price Capital Management Inc. bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,040 shares of the company's stock, valued at approximately $1,534,000. American Electric Power accounts for about 3.9% of Price Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in American Electric Power during the first quarter valued at $35,000. Next Capital Management LLC grew its position in shares of American Electric Power by 5.4% during the 1st quarter. Next Capital Management LLC now owns 8,028 shares of the company's stock valued at $877,000 after purchasing an additional 408 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of American Electric Power in the first quarter worth $311,000. Venturi Wealth Management LLC boosted its stake in American Electric Power by 39.0% during the first quarter. Venturi Wealth Management LLC now owns 2,304 shares of the company's stock valued at $252,000 after buying an additional 646 shares during the period. Finally, Oak Thistle LLC purchased a new position in American Electric Power during the first quarter worth about $1,265,000. Institutional investors own 75.24% of the company's stock.

Insider Buying and Selling

In other news, EVP Quinton S. Lies sold 10,141 shares of the 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 sale, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred 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 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 represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEP. UBS Group upped their price target on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. Guggenheim raised their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Raymond James Financial started coverage on American Electric Power in a report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective for the company. Finally, Barclays raised their price target on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $108.31.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $110.16 on Wednesday. The stock has a market cap of $58.85 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The stock has a 50 day moving average price of $102.92 and a 200-day moving average price of $102.87. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $111.02.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. Equities analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.38%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

American Electric Power Company 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.

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