National Asset Management Inc. boosted its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 65.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,126 shares of the utilities provider’s stock after purchasing an additional 5,182 shares during the quarter. National Asset Management Inc.’s holdings in American Electric Power were worth $1,051,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Royal Fund Management LLC purchased a new stake in American Electric Power during the 1st quarter worth approximately $226,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of American Electric Power by 3.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 31,728 shares of the utilities provider’s stock valued at $2,538,000 after acquiring an additional 1,016 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of American Electric Power by 537.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 122,304 shares of the utilities provider’s stock valued at $9,782,000 after acquiring an additional 103,116 shares during the last quarter. AGF Investments Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at approximately $851,000. Finally, Nvwm LLC increased its holdings in shares of American Electric Power by 2.9% in the 1st quarter. Nvwm LLC now owns 8,707 shares of the utilities provider’s stock valued at $696,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 73.67% of the company’s stock.
AEP stock traded up $1.41 during trading on Friday, reaching $78.78. 2,186,396 shares of the company’s stock were exchanged, compared to its average volume of 3,260,899. The company has a quick ratio of 0.35, a current ratio of 0.45 and a debt-to-equity ratio of 1.33. American Electric Power Company Inc has a 1-year low of $65.14 and a 1-year high of $104.97. The company’s fifty day moving average price is $81.08 and its 200-day moving average price is $90.53. The firm has a market cap of $38.34 billion, a PE ratio of 21.12, a P/E/G ratio of 3.19 and a beta of 0.38.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.55%. American Electric Power’s dividend payout ratio (DPR) is presently 66.04%.
A number of equities research analysts have recently weighed in on AEP shares. Barclays lowered their price target on American Electric Power from $107.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Evercore ISI upgraded American Electric Power from an “in-line” rating to an “outperform” rating and lowered their price objective for the stock from $103.00 to $95.00 in a research note on Monday, April 20th. TheStreet downgraded American Electric Power from a “b” rating to a “c+” rating in a research note on Friday, March 20th. Seaport Global Securities assumed coverage on American Electric Power in a research note on Wednesday. They set a “buy” rating and a $86.00 price objective for the company. Finally, SunTrust Banks upped their price objective on American Electric Power from $109.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and an average target price of $95.17.
In other news, VP Lana L. Hillebrand sold 8,944 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $100.00, for a total value of $894,400.00. Following the completion of the sale, the vice president now owns 12,324 shares in the company, valued at $1,232,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Mccullough sold 2,244 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.19, for a total value of $182,190.36. Following the completion of the sale, the executive vice president now owns 10,530 shares of the company’s stock, valued at approximately $854,930.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,067 shares of company stock valued at $12,434,814. Insiders own 0.16% 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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