Sumitomo Mitsui Trust Group Inc. Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,345,982 shares of the company's stock after buying an additional 23,778 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of American Electric Power worth $147,075,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AEP. Brighton Jones LLC raised its position in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after purchasing an additional 1,095 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of American Electric Power by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 71,568 shares of the company's stock worth $6,601,000 after purchasing an additional 613 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of American Electric Power by 2.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 91,900 shares of the company's stock worth $8,476,000 after purchasing an additional 2,400 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of American Electric Power by 26.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 33,743 shares of the company's stock worth $3,112,000 after purchasing an additional 7,066 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of American Electric Power in the 4th quarter worth about $149,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 0.1%

American Electric Power stock opened at $102.46 on Friday. The business has a 50-day simple moving average of $103.61 and a two-hundred day simple moving average of $101.48. The company has a market cap of $54.73 billion, a P/E ratio of 19.74, a P/E/G ratio of 2.72 and a beta of 0.42. American Electric Power Company, Inc. has a 52-week low of $86.83 and a 52-week high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the company posted $1.27 EPS. The business's quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. American Electric Power's payout ratio is currently 71.68%.

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 transaction, the executive vice president now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the business's 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 in the company, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 in the last ninety days. Corporate insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Guggenheim lifted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays lifted their price objective on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. UBS Group lifted their price objective on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. Finally, Morgan Stanley reduced their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, American Electric Power presently has an average rating of "Hold" and an average price target of $108.31.

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.

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