American Electric Power Company, Inc. (NASDAQ:AEP) Position Cut by SageView Advisory Group LLC

SageView Advisory Group LLC lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,396 shares of the company’s stock after selling 1,131 shares during the period. SageView Advisory Group LLC’s holdings in American Electric Power were worth $1,051,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after acquiring an additional 3,589,451 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at $175,667,000. Envestnet Asset Management Inc. raised its holdings in American Electric Power by 67.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after buying an additional 1,043,885 shares during the period. Lazard Asset Management LLC lifted its stake in American Electric Power by 18.1% during the third quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after buying an additional 660,599 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after acquiring an additional 587,145 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEP. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Scotiabank boosted their price target on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Cfra restated a “buy” rating and set a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Finally, Barclays boosted their price target on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.92.

Insider Buying and Selling

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $87.99 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. The company has a market cap of $46.38 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.61 and a beta of 0.53. The firm has a fifty day moving average price of $87.79 and a two-hundred day moving average price of $83.66. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.00%. American Electric Power’s payout ratio is 65.31%.

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.