Insider Selling: American Electric Power Company, Inc. (NASDAQ:AEP) EVP Sells $829,387.58 in Stock

American Electric Power Company, Inc. (NASDAQ:AEP) EVP David Matthew Feinberg sold 8,057 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now directly owns 26,298 shares in the company, valued at $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

American Electric Power Stock Performance

AEP stock opened at $101.79 on Friday. The firm has a market cap of $54.38 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.42. The firm has a 50-day simple moving average of $104.43 and a two-hundred day simple moving average of $100.97. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets increased their price target on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Guggenheim increased their price target on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. UBS Group increased their price target on American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a report on Friday. Finally, Bank of America increased 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $107.75.

Hedge Funds Weigh In On American Electric Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power during the 4th quarter valued at about $25,000. EQ Wealth Advisors LLC purchased a new position in American Electric Power during the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power during the fourth quarter worth approximately $28,000. Bank of New Hampshire acquired a new stake in American Electric Power in the first quarter valued at approximately $28,000. Finally, Bayforest Capital Ltd acquired a new stake in American Electric Power in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.