Zurcher Kantonalbank Zurich Cantonalbank Acquires 6,408 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Zurcher Kantonalbank increased its stake in American Electric Power by 5.0%, owning a total of 135,343 shares worth approximately $14.8 million after acquiring an additional 6,408 shares in the first quarter.
• American Electric Power's recent quarterly earnings report showed an EPS of $1.54, surpassing analysts' expectations, with a revenue of $5.46 billion, which is an 8.7% increase year-over-year.
• The company declared a quarterly dividend of $0.93 per share, translating to a 3.41% dividend yield, with a payout ratio of 71.68%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,343 shares of the company's stock after buying an additional 6,408 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in American Electric Power were worth $14,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the first quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at approximately $28,000. Bank of New Hampshire acquired a new position in American Electric Power during the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in American Electric Power in the 1st quarter valued at $35,000. Finally, Park Square Financial Group LLC bought a new stake in American Electric Power during the 4th quarter worth about $39,000. Institutional investors own 75.24% of the company's stock.

Insider Transactions at American Electric Power

In other news, 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 transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm'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 sale, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 in the last three months. Company insiders own 0.07% of the company's stock.

American Electric Power Price Performance

AEP traded up $0.44 on Friday, hitting $113.58. 4,925,406 shares of the stock were exchanged, compared to its average volume of 3,067,441. The firm has a market capitalization of $60.74 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 3.00 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $114.38. The business has a 50-day moving average of $104.39 and a two-hundred day moving average of $103.82.

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

American Electric Power Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AEP shares. BMO Capital Markets upped their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. UBS Group upped 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. Morgan Stanley decreased their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Citigroup raised their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Guggenheim upped their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.29.

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.