41,540 Shares in American Electric Power Company Inc (NYSE:AEP) Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. purchased a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,540 shares of the utilities provider’s stock, valued at approximately $3,308,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of American Electric Power by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 8,717,322 shares of the utilities provider’s stock worth $697,212,000 after purchasing an additional 36,168 shares during the period. Alliancebernstein L.P. lifted its holdings in American Electric Power by 9.2% during the 1st quarter. Alliancebernstein L.P. now owns 5,698,694 shares of the utilities provider’s stock valued at $455,782,000 after buying an additional 478,371 shares in the last quarter. Legal & General Group Plc lifted its holdings in American Electric Power by 1.5% during the 1st quarter. Legal & General Group Plc now owns 5,237,615 shares of the utilities provider’s stock valued at $419,102,000 after buying an additional 75,725 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in American Electric Power by 12.8% during the 1st quarter. Pictet Asset Management Ltd. now owns 4,914,041 shares of the utilities provider’s stock valued at $393,025,000 after buying an additional 556,814 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in American Electric Power by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 3,468,054 shares of the utilities provider’s stock valued at $277,375,000 after buying an additional 70,960 shares in the last quarter. 74.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on AEP. Seaport Global Securities began coverage on shares of American Electric Power in a report on Wednesday, May 20th. They set a “buy” rating and a $86.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and set a $92.00 price objective on shares of American Electric Power in a report on Wednesday, April 8th. UBS Group boosted their price target on shares of American Electric Power from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, June 5th. KeyCorp boosted their price target on shares of American Electric Power from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Evercore ISI upgraded shares of American Electric Power from an “in-line” rating to an “outperform” rating and reduced their price target for the company from $103.00 to $95.00 in a report on Monday, April 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. American Electric Power presently has an average rating of “Buy” and an average target price of $96.17.

NYSE:AEP opened at $86.88 on Friday. The company has a market cap of $42.65 billion, a PE ratio of 23.29, a P/E/G ratio of 3.52 and a beta of 0.36. American Electric Power Company Inc has a twelve month low of $65.14 and a twelve month high of $104.97. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $83.21 and its two-hundred day moving average is $87.41.

American Electric Power (NYSE:AEP) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.07). The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. As a group, analysts expect that American Electric Power Company Inc will post 4.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, August 7th. American Electric Power’s dividend payout ratio is presently 66.04%.

In other news, EVP Mark C. Mccullough sold 2,244 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.19, for a total value of $182,190.36. Following the sale, the executive vice president now directly owns 10,530 shares of the company’s stock, valued at approximately $854,930.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas K. Akins sold 16,519 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.90, for a total transaction of $1,352,906.10. Following the completion of the sale, the chief executive officer now directly owns 134,743 shares in the company, valued at $11,035,451.70. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

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

Featured Article: Marijuana Stocks Future Looks Bright

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

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.