American Electric Power Company Inc (NYSE:AEP) Shares Sold by Pennsylvania Trust Co

Pennsylvania Trust Co cut its holdings in American Electric Power Company Inc (NYSE:AEP) by 20.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,648 shares of the utilities provider’s stock after selling 1,180 shares during the quarter. Pennsylvania Trust Co’s holdings in American Electric Power were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of American Electric Power by 0.9% during the second quarter. Vanguard Group Inc. now owns 40,311,023 shares of the utilities provider’s stock valued at $3,547,774,000 after buying an additional 348,013 shares during the period. Northern Trust Corp raised its stake in American Electric Power by 2.6% during the second quarter. Northern Trust Corp now owns 6,017,283 shares of the utilities provider’s stock worth $529,580,000 after purchasing an additional 154,257 shares during the period. AQR Capital Management LLC raised its stake in American Electric Power by 31.9% during the second quarter. AQR Capital Management LLC now owns 3,835,199 shares of the utilities provider’s stock worth $337,536,000 after purchasing an additional 926,783 shares during the period. California Public Employees Retirement System raised its stake in American Electric Power by 18.9% during the second quarter. California Public Employees Retirement System now owns 3,691,176 shares of the utilities provider’s stock worth $324,860,000 after purchasing an additional 585,801 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in American Electric Power by 7.5% during the second quarter. Pictet Asset Management Ltd. now owns 3,342,065 shares of the utilities provider’s stock worth $294,135,000 after purchasing an additional 232,143 shares during the period. Institutional investors and hedge funds own 73.76% of the company’s stock.

A number of equities analysts have weighed in on AEP shares. Mizuho increased their price target on shares of American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Morgan Stanley increased their price target on shares of American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America reaffirmed a “buy” rating and set a $98.00 price target (up previously from $93.00) on shares of American Electric Power in a research note on Tuesday, July 9th. UBS Group increased their price target on shares of American Electric Power from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $92.45.

In related news, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total transaction of $110,631.68. Following the completion of the sale, the insider now directly owns 7,420 shares of the company’s stock, valued at approximately $675,071.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

American Electric Power stock opened at $92.34 on Friday. American Electric Power Company Inc has a 52-week low of $70.31 and a 52-week high of $94.89. The firm has a fifty day moving average of $92.24 and a 200-day moving average of $88.63. The firm has a market capitalization of $45.60 billion, a P/E ratio of 23.38, a PEG ratio of 3.97 and a beta of 0.09. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, research analysts expect that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

American Electric Power Company 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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