Russell Investments Group Ltd. Sells 92,108 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Russell Investments Group Ltd. has reduced its holdings in American Electric Power by 7.1%, owning approximately 1,213,167 shares after selling 92,108 shares in Q1.
• American Electric Power reported earnings of $1.43 per share for the last quarter, exceeding analysts' estimates of $1.27, with revenues reaching $5.09 billion.
• The company will pay a quarterly dividend of $0.93 per share on September 10, representing an annualized dividend yield of 3.3%.

Russell Investments Group Ltd. lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,213,167 shares of the company's stock after selling 92,108 shares during the quarter. Russell Investments Group Ltd. owned about 0.23% of American Electric Power worth $132,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AEP. Brighton Jones LLC raised its stake in American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after purchasing an additional 1,095 shares during the last quarter. LSV Asset Management raised its stake in American Electric Power by 18.0% during the 4th quarter. LSV Asset Management now owns 77,510 shares of the company's stock valued at $7,149,000 after purchasing an additional 11,800 shares during the last quarter. Townsquare Capital LLC raised its stake in American Electric Power by 6.8% during the 4th quarter. Townsquare Capital LLC now owns 49,894 shares of the company's stock valued at $4,602,000 after purchasing an additional 3,181 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in American Electric Power during the 4th quarter valued at $651,000. Finally, Advisors Capital Management LLC raised its stake in American Electric Power by 10.3% during the 4th quarter. Advisors Capital Management LLC now owns 4,192 shares of the company's stock valued at $387,000 after purchasing an additional 391 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AEP shares. Barclays increased their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Guggenheim increased their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial restated an "outperform" rating and issued a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Morgan Stanley dropped 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 note on Thursday, May 22nd. Finally, UBS Group increased their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.29.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president owned 9,658 shares in the company, 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. Over the last 90 days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

American Electric Power Stock Down 0.2%

AEP traded down $0.25 during trading on Thursday, reaching $112.86. The company had a trading volume of 2,230,746 shares, compared to its average volume of 3,595,063. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The business's fifty day moving average price is $106.29 and its 200 day moving average price is $104.83. The company has a market cap of $60.36 billion, a P/E ratio of 16.50, a PEG ratio of 2.97 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS 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. Investors of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's payout ratio is presently 54.39%.

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.