ZWJ Investment Counsel Inc. Sells 2,828 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

ZWJ Investment Counsel Inc. trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,651 shares of the company's stock after selling 2,828 shares during the quarter. American Electric Power comprises about 1.9% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 22nd biggest holding. ZWJ Investment Counsel Inc. owned about 0.08% of American Electric Power worth $47,276,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AEP. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter worth $25,000. Bank of New Hampshire bought a new position in American Electric Power in the first quarter valued at about $28,000. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power in the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power in the fourth quarter worth about $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at about $32,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded up $0.15 on Friday, reaching $103.41. The company's stock had a trading volume of 1,620,520 shares, compared to its average volume of 3,215,880. The company has a 50-day simple moving average of $103.36 and a 200 day simple moving average of $101.73. 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 debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The company has a market cap of $55.24 billion, a P/E ratio of 19.92, a PEG ratio of 2.74 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the business posted $1.27 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a dividend yield of 3.60%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Analyst Ratings Changes

A number of brokerages have commented on AEP. Raymond James Financial started coverage on American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target for the company. UBS Group increased their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research note on Friday, June 6th. Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Bank of America raised their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Finally, Guggenheim upped their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $108.31.

Insider Buying and Selling

In other news, 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 transaction of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at approximately $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 ninety days, insiders have sold 34,314 shares of company stock worth $3,508,293. 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.