Rossby Financial LCC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Rossby Financial LCC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,229 shares of the company’s stock, valued at approximately $131,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kingswood Wealth Advisors LLC grew its holdings in American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company’s stock valued at $364,000 after buying an additional 430 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of American Electric Power in the first quarter valued at approximately $262,000. Robertson Stephens Wealth Management LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $205,000. GAMMA Investing LLC grew its stake in American Electric Power by 24.5% during the first quarter. GAMMA Investing LLC now owns 19,678 shares of the company’s stock valued at $2,150,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in American Electric Power by 26.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company’s stock worth $38,848,000 after acquiring an additional 73,488 shares during the period. 75.24% of the stock is owned by institutional investors.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 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. Insiders sold 34,314 shares of company stock worth $3,508,293 in the last 90 days. Company insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $103.41 on Friday. The stock’s 50-day moving average is $103.36 and its 200 day moving average is $101.73. The stock has a market cap of $55.24 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.74 and a beta of 0.42. American Electric Power Company, Inc. has a 1-year low of $86.83 and a 1-year high of $110.48. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEPGet Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate 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 disclosed 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 3.60%. The ex-dividend date was Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised their price target on shares of American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a report on Friday, June 6th. BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Bank of America boosted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Wells Fargo & Company upped their target price 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, Morgan Stanley dropped their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $108.31.

Check Out Our Latest Analysis on AEP

American Electric Power Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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