Vestcor Inc Sells 2,830 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Vestcor Inc has reduced its stake in American Electric Power Company, Inc. by 5.1%, now holding 53,077 shares worth approximately $5.8 million.
• Insider transactions indicate significant selling activity, with executives Quinton S. Lies and David Matthew Feinberg reducing their ownership by 51.22% and 43.96%, respectively, over recent months.
• AEP recently announced a quarterly dividend of $0.93 per share, representing an annualized rate of $3.72 and a dividend yield of 3.28%, with a payout ratio of 71.68%.

Vestcor Inc lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,077 shares of the company's stock after selling 2,830 shares during the period. Vestcor Inc's holdings in American Electric Power were worth $5,800,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in American Electric Power in the 1st quarter valued at approximately $2,547,000. Harvest Fund Management Co. Ltd raised its position in American Electric Power by 10.5% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 35,048 shares of the company's stock valued at $3,829,000 after buying an additional 3,343 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in American Electric Power in the 1st quarter valued at approximately $810,000. FSA Advisors Inc. acquired a new stake in American Electric Power in the 1st quarter valued at approximately $285,000. Finally, Geneos Wealth Management Inc. raised its position in American Electric Power by 122.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 23,663 shares of the company's stock valued at $2,586,000 after buying an additional 13,045 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AEP shares. Mizuho lifted their target price on American Electric Power from $109.00 to $116.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group lifted their target price on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday. Barclays lifted their target price on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday. Morgan Stanley lowered their price target 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, Wells Fargo & Company boosted their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $111.29.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction 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 directly owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction 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 owned 10,274 shares of the company's stock, valued at $1,045,276.76. This trade represents a 43.96% 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 worth $3,508,293 over the last three months. 0.07% of the stock is owned by insiders.

American Electric Power Stock Performance

Shares of AEP stock traded up $0.44 during trading on Friday, reaching $113.58. 4,925,406 shares of the company's stock were exchanged, compared to its average volume of 3,067,441. The company has a quick ratio of 0.31, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $60.74 billion, a PE ratio of 16.61, a PEG ratio of 3.00 and a beta of 0.40. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $114.38. The firm's fifty day moving average price is $104.61 and its 200-day moving average price is $103.95.

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

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend 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 presently 54.39%.

American Electric Power Company 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.