Assenagon Asset Management S.A. Has $32.48 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Assenagon Asset Management S.A. lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 297,222 shares of the company’s stock after selling 88,277 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of American Electric Power worth $32,477,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AEP. W.H. Cornerstone Investments Inc. grew its holdings in American Electric Power by 89.7% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 6,398 shares of the company’s stock valued at $590,000 after buying an additional 3,026 shares in the last quarter. Certuity LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $245,000. Avidian Wealth Enterprises LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $372,000. GQG Partners LLC grew its position in shares of American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company’s stock worth $1,389,032,000 after purchasing an additional 543,054 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of American Electric Power by 34.5% during the 4th quarter. Allworth Financial LP now owns 15,586 shares of the company’s stock worth $1,519,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $103.02 on Friday. The stock’s 50-day simple moving average is $104.14 and its 200 day simple moving average is $101.09. The firm has a market capitalization of $55.03 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48.

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

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of analyst reports. Morgan Stanley decreased 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 report on Thursday, May 22nd. UBS Group increased their target price on American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, June 6th. Guggenheim increased their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Barclays increased their target price on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets increased their target price on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus price target of $107.75.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the transaction, the executive vice president now owns 26,298 shares in the company, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the transaction, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,256 shares of company stock valued at $2,688,472. 0.07% of the stock is currently owned by corporate 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.