Sagespring Wealth Partners LLC Purchases 4,554 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sagespring Wealth Partners LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 64.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,615 shares of the company's stock after purchasing an additional 4,554 shares during the quarter. Sagespring Wealth Partners LLC's holdings in American Electric Power were worth $1,269,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AEP. Safeguard Investment Advisory Group LLC grew its position in shares of American Electric Power by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock valued at $223,000 after acquiring an additional 100 shares during the period. Marcum Wealth LLC lifted its stake in American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after buying an additional 101 shares in the last quarter. SouthState Corp lifted its stake in American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company's stock valued at $610,000 after buying an additional 102 shares in the last quarter. Ascent Group LLC lifted its stake in American Electric Power by 0.4% in the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock valued at $2,572,000 after buying an additional 102 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in American Electric Power by 2.3% in the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock valued at $418,000 after buying an additional 103 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Morgan Stanley decreased their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Bank of America raised their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. UBS Group raised their price target on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research note on Friday, June 6th. Finally, Raymond James initiated coverage on shares of American Electric Power in a research note on Friday. They issued an "outperform" rating and a $115.00 target price on the stock. One equities research 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $108.31.

American Electric Power Stock Down 1.0%

AEP stock opened at $101.91 on Tuesday. The firm has a market cap of $54.44 billion, a PE ratio of 18.20, a PEG 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. The firm's 50 day moving average price is $104.19 and its 200-day moving average price is $101.15. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. On average, equities research 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is presently 71.68%.

Insider Activity

In related news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares in the company, valued at approximately $2,707,116.12. This trade represents a 23.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,256 shares of company stock valued at $2,688,472. 0.07% of the stock is currently owned by company insiders.

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.

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