MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, Holdings Channel reports. The firm purchased 496,233 shares of the company’s stock, valued at approximately $54,223,000. American Electric Power comprises about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 21st largest position.

Other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power during the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power during the 4th quarter worth $28,000. Bank of New Hampshire acquired a new position in American Electric Power during the 1st quarter worth $28,000. Fairway Wealth LLC acquired a new position in American Electric Power during the 4th quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new position in American Electric Power during the 4th quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEP. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Morgan Stanley lowered their target price on 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. Bank of America increased their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, Guggenheim lifted their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One research 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.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $108.31.

American Electric Power Stock Performance

Shares of AEP opened at $102.90 on Friday. The company’s fifty day moving average is $104.17 and its 200-day moving average is $101.13. 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 cap of $54.97 billion, a price-to-earnings ratio of 18.38, 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 (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. American Electric Power’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. Equities analysts expect that American Electric Power Company, Inc. will post 5.87 EPS 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. Shareholders of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

Insider Buying and Selling at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the sale, the executive vice president now owns 26,298 shares of the company’s stock, valued at $2,707,116.12. This trade represents a 23.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,256 shares of company stock valued at $2,688,472 in the last ninety days. Company insiders own 0.07% of the company’s stock.

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.