Secure Asset Management LLC Has $720,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Secure Asset Management LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 72.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,587 shares of the company's stock after selling 17,329 shares during the quarter. Secure Asset Management LLC's holdings in American Electric Power were worth $720,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of American Electric Power by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock worth $315,498,000 after acquiring an additional 738,756 shares in the last quarter. W.H. Cornerstone Investments Inc. increased its position 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 purchasing an additional 3,026 shares during the last quarter. Certuity LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $245,000. Avidian Wealth Enterprises LLC acquired a new stake in shares of American Electric Power during the 4th quarter valued at about $372,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at approximately $1,736,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets lifted 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 note on Monday, April 21st. Bank of America lifted their price objective 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. Citigroup upped their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group raised their target price on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday. Finally, Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $106.08.

American Electric Power Stock Performance

NASDAQ:AEP traded up $0.02 during mid-day trading on Friday, hitting $101.79. 2,045,035 shares of the company's stock traded hands, compared to its average volume of 3,191,647. The firm has a market capitalization of $54.38 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The firm has a 50 day moving average of $104.57 and a two-hundred day moving average of $100.93. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the prior year, the business earned $1.27 earnings per share. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts forecast 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 issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. This trade 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 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.