Asset Management One Co. Ltd. Has $23.49 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Asset Management One Co. Ltd. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.3% in the 1st quarter, HoldingsChannel reports. The firm owned 214,972 shares of the company’s stock after acquiring an additional 14,700 shares during the period. Asset Management One Co. Ltd.’s holdings in American Electric Power were worth $23,490,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power during the fourth quarter worth approximately $25,000. EQ Wealth Advisors LLC acquired a new stake in American Electric Power during the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power during the fourth quarter worth approximately $28,000. Bank of New Hampshire acquired a new stake in American Electric Power during the first quarter worth approximately $28,000. Finally, Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at approximately $32,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AEP shares. Citigroup lifted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. BMO Capital Markets lifted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Raymond James Financial started coverage on shares of American Electric Power in a research report on Friday, June 13th. They issued an “outperform” rating and a $115.00 price target for the company. Guggenheim lifted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Barclays lifted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $108.31.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $101.41 on Thursday. The company’s 50 day simple moving average is $103.83 and its 200 day simple moving average is $101.33. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.67%. American Electric Power’s payout ratio is presently 71.68%.

Insiders Place Their Bets

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president now owns 10,274 shares of the company’s stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by insiders.

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.