Meiji Yasuda Asset Management Co Ltd. Trims Stake in American Electric Power Company Inc (NYSE:AEP)

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 11.7% in the first quarter, HoldingsChannel.com reports. The fund owned 23,489 shares of the utilities provider’s stock after selling 3,120 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in American Electric Power were worth $1,967,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sageworth Trust Co lifted its position in shares of American Electric Power by 1,026.9% during the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 267 shares during the period. Legacy Advisors LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at approximately $25,000. Capital Financial Planning LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $26,000. Athena Capital Advisors LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $27,000. Finally, Claybrook Capital LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $27,000. Institutional investors own 73.60% of the company’s stock.

Several research analysts recently issued reports on the company. Morgan Stanley downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $86.00 to $83.20 in a research report on Thursday, April 18th. KeyCorp assumed coverage on American Electric Power in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Zacks Investment Research downgraded American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upgraded American Electric Power from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $88.00 in a research report on Tuesday, March 12th. Finally, Goldman Sachs Group downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Electric Power has a consensus rating of “Hold” and a consensus target price of $81.80.

AEP stock traded up $1.12 during midday trading on Wednesday, hitting $89.44. The stock had a trading volume of 838,764 shares, compared to its average volume of 2,577,575. The stock has a market capitalization of $44.15 billion, a P/E ratio of 22.64, a PEG ratio of 3.82 and a beta of 0.16. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. American Electric Power Company Inc has a 12-month low of $62.75 and a 12-month high of $91.07.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.23 billion. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. American Electric Power’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. Research analysts forecast that American Electric Power Company Inc will post 4.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $0.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.68 annualized dividend and a yield of 3.00%. American Electric Power’s payout ratio is currently 67.85%.

In other American Electric Power news, CEO Nicholas K. Akins sold 11,152 shares of American Electric Power stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa M. Barton sold 1,752 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $89.41, for a total transaction of $156,646.32. Following the completion of the sale, the insider now directly owns 34,460 shares of the company’s stock, valued at $3,081,068.60. The disclosure for this sale can be found here. Insiders sold a total of 24,637 shares of company stock valued at $2,112,145 over the last ninety days. 0.16% of the stock is owned by corporate insiders.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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