47,095 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Bought by RBA Wealth Management LLC

RBA Wealth Management LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 47,095 shares of the company's stock, valued at approximately $5,146,000. American Electric Power makes up approximately 2.0% of RBA Wealth Management LLC's portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also made changes to their positions in AEP. Brighton Jones LLC boosted its holdings in American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after acquiring an additional 1,095 shares during the period. New York Life Investment Management LLC lifted its position in shares of American Electric Power by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 71,568 shares of the company's stock worth $6,601,000 after purchasing an additional 613 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in American Electric Power by 2.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 91,900 shares of the company's stock valued at $8,476,000 after purchasing an additional 2,400 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in American Electric Power by 26.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 33,743 shares of the company's stock valued at $3,112,000 after buying an additional 7,066 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in American Electric Power in the 4th quarter worth approximately $149,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Price Performance

Shares of AEP traded down $1.13 on Wednesday, hitting $103.26. The company's stock had a trading volume of 3,257,764 shares, compared to its average volume of 3,209,205. The company has a market capitalization of $55.16 billion, a PE ratio of 19.90, a PEG ratio of 2.76 and a beta of 0.42. American Electric Power Company, Inc. has a fifty-two week low of $86.83 and a fifty-two week high of $110.48. The company has a 50 day moving average price of $103.50 and a 200 day moving average price of $101.64. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced 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. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.60%. American Electric Power's payout ratio is 71.68%.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company's 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AEP has been the subject of several research reports. Barclays increased their price objective on 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. Raymond James Financial started coverage on shares of American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target on the stock. BMO Capital Markets upped their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Morgan Stanley decreased their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Guggenheim upped their price target on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $108.31.

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.