Vanguard Group Inc. Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Vanguard Group Inc. increased its stake in American Electric Power (AEP) by 1.1%, owning approximately 52.27 million shares worth about $5.71 billion.
• Other large investors, including Lazard Asset Management and GAMMA Investing, have also significantly increased their positions, with GAMMA boosting its stake by 13,499.5% during the first quarter.
• American Electric Power announced a quarterly dividend of $0.93 per share, providing an annual yield of 3.3%, with a dividend payout ratio of 54.39%.

Vanguard Group Inc. boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,269,781 shares of the company's stock after buying an additional 579,175 shares during the quarter. Vanguard Group Inc. owned 9.79% of American Electric Power worth $5,711,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC grew its stake in shares of American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after purchasing an additional 2,165,888 shares during the period. GAMMA Investing LLC lifted its stake in shares of American Electric Power by 13,499.5% in the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after purchasing an additional 2,134,404 shares during the period. Bessemer Group Inc. boosted its holdings in shares of American Electric Power by 4,567.3% in the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after buying an additional 1,726,868 shares during the last quarter. Cohen & Steers Inc. bought a new stake in American Electric Power during the fourth quarter valued at approximately $121,605,000. Finally, Bank of America Corp DE grew its position in American Electric Power by 27.5% during the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after buying an additional 1,105,317 shares during the period. Institutional investors own 75.24% of the company's stock.

American Electric Power Price Performance

NASDAQ AEP traded down $1.23 on Friday, reaching $112.50. The company had a trading volume of 2,706,902 shares, compared to its average volume of 3,661,537. The firm's 50 day moving average price is $105.70 and its 200 day moving average price is $104.53. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The stock has a market capitalization of $60.16 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.02 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company earned $1.25 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's payout ratio is 54.39%.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. Company insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Raymond James Financial reiterated an "outperform" rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Barclays upped their price target on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Morgan Stanley lowered their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, UBS Group boosted their price objective on 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 given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $111.29.

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.