Community Trust & Investment Co. Has $340,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Community Trust & Investment Co. lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.6% in the 1st quarter, Holdings Channel reports. The firm owned 3,114 shares of the company’s stock after selling 257 shares during the period. Community Trust & Investment Co.’s holdings in American Electric Power were worth $340,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Safeguard Investment Advisory Group LLC boosted its stake in American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock valued at $223,000 after buying an additional 100 shares in the last quarter. Marcum Wealth LLC lifted its holdings in shares of American Electric Power by 3.0% in the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock worth $379,000 after acquiring an additional 101 shares during the last quarter. SouthState Corp boosted its stake in shares of American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after purchasing an additional 102 shares in the last quarter. Ascent Group LLC grew its holdings in shares of American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock valued at $2,572,000 after purchasing an additional 102 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its holdings in shares of American Electric Power by 2.3% during the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock valued at $418,000 after purchasing an additional 103 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of AEP opened at $102.90 on Monday. The firm has a market cap of $54.97 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48. The business’s 50 day moving average price is $104.17 and its two-hundred day moving average price is $101.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AEP shares. Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Raymond James assumed coverage on American Electric Power in a research report on Friday. They issued an “outperform” rating and a $115.00 price target on the stock. UBS Group increased their price target on American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a research note on Friday, June 6th. Wells Fargo & Company lifted their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Finally, Citigroup increased their target price 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. One 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, the company has a consensus rating of “Hold” and an average price target of $108.31.

Insider Transactions at American Electric Power

In other news, 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 transaction of $829,387.58. Following the transaction, the executive vice president now directly owns 26,298 shares of the company’s stock, valued at $2,707,116.12. This represents 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 available through this link. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction 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 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. Insiders have sold 26,256 shares of company stock valued at $2,688,472 in the last 90 days. 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.