American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,827,986 shares of the company’s stock after buying an additional 183,637 shares during the period. American Electric Power comprises about 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 8th largest holding. Allspring Global Investments Holdings LLC’s holdings in American Electric Power were worth $523,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the fourth quarter worth $25,000. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power during the first quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter worth $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the first quarter worth $28,000. Finally, Fairway Wealth LLC purchased a new position in American Electric Power in the fourth quarter valued at $32,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.1%

Shares of NASDAQ AEP opened at $102.46 on Friday. The company has a market capitalization of $54.73 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The business has a 50-day moving average of $103.61 and a two-hundred day moving average of $101.43. American Electric Power Company, Inc. has a 1 year low of $86.83 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 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast 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 given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 71.68%.

Analysts Set New Price Targets

AEP has been the subject of a number of recent research reports. Citigroup lifted their target price on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Bank of America lifted their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Raymond James Financial initiated coverage on American Electric Power in a report on Friday, June 13th. They issued an “outperform” rating and a $115.00 target price for the company. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $108.31.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company’s 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 sale, the executive vice president now directly owns 10,274 shares of the company’s stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,314 shares of company stock worth $3,508,293. Corporate insiders own 0.07% of the company’s stock.

About American Electric Power

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.