Romano Brothers AND Company Sells 2,903 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Romano Brothers AND Company decreased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,367 shares of the company's stock after selling 2,903 shares during the period. Romano Brothers AND Company's holdings in American Electric Power were worth $4,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEP. DAVENPORT & Co LLC lifted its position in American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock valued at $5,310,000 after purchasing an additional 3,288 shares during the period. JPMorgan Chase & Co. lifted its position in American Electric Power by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock valued at $315,498,000 after purchasing an additional 738,756 shares during the period. W.H. Cornerstone Investments Inc. lifted its position in American Electric Power by 89.7% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 6,398 shares of the company's stock valued at $590,000 after purchasing an additional 3,026 shares during the period. Certuity LLC acquired a new position in American Electric Power during the 4th quarter valued at about $245,000. Finally, Avidian Wealth Enterprises LLC acquired a new position in American Electric Power during the 4th quarter valued at about $372,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. BMO Capital Markets upped their target price 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. Citigroup upped their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Bank of America upped their target price 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. Finally, UBS Group upped their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $106.08.

Insiders Place Their Bets

In other news, EVP David Matthew Feinberg sold 8,057 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the completion of the transaction, the executive vice president now directly owns 26,298 shares of the company's stock, valued at $2,707,116.12. This trade represents a 23.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company's stock.

American Electric Power Trading Up 0.0%

Shares of AEP stock traded up $0.02 on Friday, reaching $101.79. The company had a trading volume of 2,045,035 shares, compared to its average volume of 3,194,730. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The stock has a market cap of $54.38 billion, a PE ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.42. The company has a 50-day moving average of $104.43 and a 200-day moving average of $100.97. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48.

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. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.65%. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

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.