Cambiar Investors LLC Has $36.48 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cambiar Investors LLC trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,826 shares of the company’s stock after selling 24,191 shares during the quarter. American Electric Power comprises approximately 1.5% of Cambiar Investors LLC’s holdings, making the stock its 29th largest position. Cambiar Investors LLC’s holdings in American Electric Power were worth $36,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in American Electric Power during the first quarter worth $568,042,000. GQG Partners LLC increased its holdings in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the period. Lazard Asset Management LLC increased its holdings in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock valued at $591,791,000 after buying an additional 2,165,888 shares during the period. GAMMA Investing LLC increased its holdings in American Electric Power by 13,499.5% in the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company’s stock valued at $234,954,000 after buying an additional 2,134,404 shares during the period. Finally, Bessemer Group Inc. increased its holdings in American Electric Power by 4,567.3% in the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock valued at $192,827,000 after buying an additional 1,726,868 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Scotiabank boosted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a “neutral” rating in a report on Thursday, July 31st. Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Finally, Barclays upped their target price on shares of American Electric Power from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $111.29.

American Electric Power Stock Down 0.8%

Shares of NASDAQ:AEP opened at $111.99 on Friday. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The company’s 50-day moving average price is $106.71 and its two-hundred day moving average price is $105.04. 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 $59.89 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.97 and a beta of 0.40.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 54.39%.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,058 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm’s 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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last ninety days. 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.