Cbre Clarion Securities LLC Buys 143,644 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Cbre Clarion Securities LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 594,678 shares of the company’s stock after purchasing an additional 143,644 shares during the quarter. American Electric Power makes up 1.0% of Cbre Clarion Securities LLC’s portfolio, making the stock its 25th biggest position. Cbre Clarion Securities LLC owned 0.12% of American Electric Power worth $50,369,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of American Electric Power by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,851,838 shares of the company’s stock valued at $320,742,000 after purchasing an additional 252,550 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Electric Power by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,759,051 shares of the company’s stock valued at $318,393,000 after purchasing an additional 659,918 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of American Electric Power by 8.1% during the 1st quarter. CIBC Private Wealth Group LLC now owns 2,530,791 shares of the company’s stock worth $214,358,000 after acquiring an additional 189,163 shares in the last quarter. Swiss National Bank raised its stake in shares of American Electric Power by 1.8% during the 1st quarter. Swiss National Bank now owns 2,297,842 shares of the company’s stock worth $194,627,000 after acquiring an additional 39,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of American Electric Power by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,199,386 shares of the company’s stock worth $183,143,000 after acquiring an additional 26,864 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

NASDAQ:AEP traded down $0.04 during trading hours on Friday, hitting $84.69. 43,188 shares of the company were exchanged, compared to its average volume of 3,035,422. The stock has a market cap of $42.32 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 3.11 and a beta of 0.26. American Electric Power Company, Inc. has a 52-week low of $74.80 and a 52-week high of $94.21. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.29. The company’s 50 day moving average is $86.70.

American Electric Power (NASDAQ:AEP) last released its earnings results on Wednesday, April 21st. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.02). The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.54 billion. American Electric Power had a return on equity of 10.93% and a net margin of 14.72%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 EPS. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 4.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Monday, May 10th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, May 7th. American Electric Power’s dividend payout ratio (DPR) is currently 66.67%.

In other news, EVP Charles R. Patton sold 14,791 shares of the company’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $85.00, for a total value of $1,257,235.00. Following the sale, the executive vice president now directly owns 29,367 shares of the company’s stock, valued at approximately $2,496,195. 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 15,068 shares of the company’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $88.39, for a total transaction of $1,331,860.52. Following the completion of the sale, the chief executive officer now directly owns 106,588 shares in the company, valued at $9,421,313.32. The disclosure for this sale can be found here. Insiders sold a total of 41,293 shares of company stock worth $3,592,418 over the last ninety days. Insiders own 0.14% of the company’s stock.

Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of American Electric Power from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Tuesday, May 18th. Mizuho boosted their price objective on shares of American Electric Power from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, April 15th. Edward Jones assumed coverage on shares of American Electric Power in a research note on Wednesday, March 10th. They set a “buy” rating for the company. Finally, Barclays boosted their price objective on shares of American Electric Power from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power has a consensus rating of “Buy” and an average target price of $94.75.

American Electric Power Company 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.

Further Reading: NASDAQ

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

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