NorthCrest Asset Manangement LLC Has $2.83 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

NorthCrest Asset Manangement LLC raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 11.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,880 shares of the company’s stock after purchasing an additional 2,673 shares during the period. NorthCrest Asset Manangement LLC’s holdings in American Electric Power were worth $2,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Willis Investment Counsel grew its position in American Electric Power by 15.0% in the 1st quarter. Willis Investment Counsel now owns 178,900 shares of the company’s stock worth $19,548,000 after purchasing an additional 23,300 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of American Electric Power during the first quarter valued at approximately $1,117,000. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in American Electric Power by 1.7% during the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 148,250 shares of the company’s stock worth $16,199,000 after acquiring an additional 2,454 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in American Electric Power by 3.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 504,665 shares of the company’s stock worth $55,145,000 after purchasing an additional 16,858 shares during the last quarter. Finally, Davis Investment Partners LLC bought a new position in American Electric Power in the 1st quarter valued at $536,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Price Performance

AEP stock opened at $102.90 on Friday. The firm has a 50 day moving average of $104.17 and a 200-day moving average of $101.12. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The firm has a market capitalization of $54.97 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42.

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

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEP. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Citigroup lifted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Morgan Stanley reduced their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Finally, Bank of America boosted their target price on 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 analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and an average price target of $108.31.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares of the company’s stock, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,256 shares of company stock worth $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.