Rhumbline Advisers Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Rhumbline Advisers grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 919,227 shares of the company's stock after acquiring an additional 46,508 shares during the quarter. Rhumbline Advisers owned about 0.17% of American Electric Power worth $100,444,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its holdings in American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock worth $5,310,000 after buying an additional 3,288 shares in the last quarter. Capital Insight Partners LLC bought a new stake in American Electric Power in the 4th quarter worth about $714,000. Avantra Family Wealth Inc. bought a new stake in American Electric Power in the 4th quarter worth about $458,000. JPMorgan Chase & Co. increased its holdings in American Electric Power by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock worth $315,498,000 after buying an additional 738,756 shares in the last quarter. Finally, W.H. Cornerstone Investments Inc. increased its holdings in American Electric Power by 89.7% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 6,398 shares of the company's stock worth $590,000 after buying an additional 3,026 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.1%

AEP stock traded down $0.08 during trading on Thursday, reaching $101.77. 2,033,925 shares of the company traded hands, compared to its average volume of 3,196,236. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The business has a 50 day simple moving average of $104.57 and a 200 day simple moving average of $100.93. The company has a market capitalization of $54.37 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AEP shares. 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. Guggenheim boosted their price target on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $105.69.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,057 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now directly owns 26,298 shares in the company, valued at $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred 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 transaction, the executive vice president now owns 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 disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

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.