RWC Asset Management LLP Sells 26,691 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• RWC Asset Management LLP has reduced its stake in American Electric Power Company by 20.3%, selling 26,691 shares to hold a total of 104,910 shares valued at approximately $11.46 million.
• The company's quarterly earnings report showed an EPS of $1.54, exceeding estimates, with a revenue growth of 8.7% year-over-year, amounting to $5.46 billion.
• American Electric Power declared a quarterly dividend of $0.93, resulting in an annualized dividend yield of 3.39% and a payout ratio of 71.68%.

RWC Asset Management LLP trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 104,910 shares of the company's stock after selling 26,691 shares during the quarter. RWC Asset Management LLP's holdings in American Electric Power were worth $11,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased 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 buying an additional 1,095 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of American Electric Power during the fourth quarter worth $149,000. Congress Wealth Management LLC DE bought a new position in shares of American Electric Power during the 4th quarter valued at approximately $675,000. Ausdal Financial Partners Inc. boosted its holdings in shares of American Electric Power by 5.6% in the 4th quarter. Ausdal Financial Partners Inc. now owns 3,269 shares of the company's stock worth $301,000 after purchasing an additional 172 shares during the period. Finally, Elo Mutual Pension Insurance Co bought a new position in American Electric Power during the 4th quarter valued at about $3,682,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AEP shares. Morgan Stanley decreased their price target on 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. Wells Fargo & Company upped 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. Raymond James Financial reissued an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday. Citigroup raised their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Barclays raised their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and a consensus target price of $110.07.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the business'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 value of $1,041,277.88. Following the completion of the sale, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. Corporate insiders own 0.07% of the company's stock.

American Electric Power Price Performance

NASDAQ:AEP traded down $0.21 during mid-day trading on Thursday, hitting $113.05. 2,151,389 shares of the company's stock traded hands, compared to its average volume of 3,574,637. The firm's 50 day simple moving average is $104.17 and its 200 day simple moving average is $103.69. The company has a market cap of $60.39 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.90 and a beta of 0.42. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $114.23. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The company 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 13.73% and a return on equity of 11.68%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

About American Electric Power

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.