Choreo LLC lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,121 shares of the company’s stock after selling 1,220 shares during the quarter. Choreo LLC’s holdings in American Electric Power were worth $2,308,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Clarius Group LLC lifted its stake in shares of American Electric Power by 2.5% in the first quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after acquiring an additional 95 shares during the period. Safeguard Investment Advisory Group LLC raised its position in American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock valued at $223,000 after buying an additional 100 shares during the last quarter. Marcum Wealth LLC boosted its holdings in American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock worth $379,000 after acquiring an additional 101 shares during the last quarter. Ascent Group LLC boosted its holdings in American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock worth $2,572,000 after acquiring an additional 102 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake in American Electric Power by 2.3% in the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock valued at $418,000 after purchasing an additional 103 shares during the period. Institutional investors own 75.24% of the company’s stock.
Insider Activity at American Electric Power
In related news, EVP Quinton S. Lies sold 10,141 shares of the firm’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 transaction of $1,041,277.88. Following the completion of the sale, the executive vice president directly owned 9,658 shares of the company’s stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a legal 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 stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.
Wall Street Analyst Weigh In
AEP has been the subject of a number of recent analyst reports. Raymond James Financial assumed coverage on American Electric Power in a research note on Friday, June 13th. They issued an “outperform” rating and a $115.00 price objective for the company. Guggenheim boosted 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. Morgan Stanley cut 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. Citigroup raised their price objective on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets boosted their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.31.
Read Our Latest Stock Analysis on American Electric Power
American Electric Power Stock Down 1.2%
American Electric Power stock opened at $108.89 on Thursday. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $110.51. 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 stock has a market cap of $58.17 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42. The stock has a fifty day moving average of $103.49 and a 200 day moving average of $103.07.
American Electric Power (NASDAQ:AEP – Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (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 firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations 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, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power’s payout ratio is 71.68%.
American Electric Power Profile
(Free Report)
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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