Capital City Trust Co. FL Sells 371 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Capital City Trust Co. FL decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 39,161 shares of the company’s stock after selling 371 shares during the period. American Electric Power accounts for about 1.2% of Capital City Trust Co. FL’s portfolio, making the stock its 29th largest position. Capital City Trust Co. FL’s holdings in American Electric Power were worth $4,279,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of American Electric Power in the 4th quarter worth approximately $149,000. Congress Wealth Management LLC DE purchased a new position in shares of American Electric Power in the 4th quarter worth approximately $675,000. Ausdal Financial Partners Inc. raised its stake in shares of American Electric Power by 5.6% during the 4th quarter. Ausdal Financial Partners Inc. now owns 3,269 shares of the company’s stock worth $301,000 after acquiring an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new stake in American Electric Power during the fourth quarter valued at approximately $3,682,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Guggenheim lifted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. BMO Capital Markets boosted their target price on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Citigroup upped their target price on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Barclays raised their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $108.31.

American Electric Power Trading Up 0.8%

American Electric Power stock opened at $109.79 on Friday. The stock has a 50-day moving average price of $103.77 and a 200 day moving average price of $103.41. The company has a market capitalization of $58.65 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $110.51. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 13.73% and a return on equity of 11.68%. American Electric Power’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power’s payout ratio is 71.68%.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power 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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock worth $3,508,293 over the last ninety days. 0.07% of the stock is owned by insiders.

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.