Plan Group Financial LLC Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Plan Group Financial LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 42.3% in the 1st quarter, HoldingsChannel reports. The fund owned 15,692 shares of the company’s stock after buying an additional 4,665 shares during the quarter. Plan Group Financial LLC’s holdings in American Electric Power were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EQ Wealth Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at approximately $28,000. Bank of New Hampshire bought a new position in American Electric Power during the 1st quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power during the 1st quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power in the 1st quarter worth approximately $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.3%

AEP stock opened at $115.00 on Tuesday. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.29. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The firm has a market cap of $61.50 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.02 and a beta of 0.40. The business has a 50 day moving average of $104.85 and a 200 day moving average of $104.19.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 8th. American Electric Power’s dividend payout ratio (DPR) is currently 54.39%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction on 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 directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on 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 sale, the executive vice president owned 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. Over the last quarter, insiders have sold 34,314 shares of company stock worth $3,508,293. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the subject of several research reports. Citigroup increased their target price 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. 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 research report on Thursday, May 22nd. Scotiabank increased their target price on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Finally, Barclays increased their target price on American Electric Power from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $111.29.

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.