Bleakley Financial Group LLC Has $2.29 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Bleakley Financial Group LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 13.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,961 shares of the company’s stock after buying an additional 2,432 shares during the quarter. Bleakley Financial Group LLC’s holdings in American Electric Power were worth $2,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. EQ Wealth Advisors LLC acquired a new stake in American Electric Power in the 1st quarter worth $25,000. Bank of New Hampshire acquired a new stake in American Electric Power in the 1st quarter worth $28,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power in the 4th quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power in the 4th quarter worth $28,000. Finally, North Capital Inc. acquired a new stake in American Electric Power in the 1st quarter worth $39,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares of the company’s stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim raised their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Barclays upped their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. UBS Group upped their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a research note on Friday, June 6th. Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Bank of America upped their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus price target of $108.31.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $104.40 on Wednesday. The stock has a market capitalization of $55.77 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.79 and a beta of 0.42. The firm’s 50-day moving average price is $102.89 and its two-hundred day moving average price is $102.50. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $110.48.

American Electric Power (NASDAQ:AEP) last posted its earnings results 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. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. American Electric Power’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 71.68%.

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