B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 22,459 shares of the company’s stock, valued at approximately $2,116,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Harvest Volatility Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth $554,000. Jeppson Wealth Management LLC lifted its position in shares of American Electric Power by 6.2% during the 4th quarter. Jeppson Wealth Management LLC now owns 21,571 shares of the company’s stock worth $1,796,000 after purchasing an additional 1,263 shares during the last quarter. Geier Asset Management Inc. purchased a new stake in shares of American Electric Power during the 4th quarter worth $982,000. Eaton Vance Management lifted its position in shares of American Electric Power by 6.7% during the 4th quarter. Eaton Vance Management now owns 32,023 shares of the company’s stock worth $2,667,000 after purchasing an additional 2,000 shares during the last quarter. Finally, FormulaFolio Investments LLC purchased a new stake in American Electric Power in the fourth quarter valued at $810,000. 75.01% of the stock is owned by institutional investors and hedge funds.
Shares of American Electric Power stock opened at $86.69 on Thursday. American Electric Power Company, Inc. has a 52-week low of $74.80 and a 52-week high of $94.21. The company has a quick ratio of 0.34, a current ratio of 0.48 and a debt-to-equity ratio of 1.36. The company’s 50-day simple moving average is $81.22 and its 200-day simple moving average is $82.43. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.22.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.41%. American Electric Power’s dividend payout ratio (DPR) is 69.81%.
In other American Electric Power news, EVP David Matthew Feinberg sold 11,951 shares of the company’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $75.42, for a total transaction of $901,344.42. Following the transaction, the executive vice president now directly owns 13,325 shares in the company, valued at $1,004,971.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas K. Akins sold 66,483 shares of the company’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $76.24, for a total transaction of $5,068,663.92. Following the transaction, the chief executive officer now owns 187,288 shares in the company, valued at $14,278,837.12. The disclosure for this sale can be found here. Insiders have sold 118,935 shares of company stock worth $9,204,606 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Edward Jones assumed coverage on shares of American Electric Power in a research report on Tuesday, March 16th. They issued a “buy” rating for the company. Mizuho assumed coverage on shares of American Electric Power in a research report on Monday, December 14th. They issued a “buy” rating and a $84.00 price target for the company. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Wednesday, January 20th. Morgan Stanley boosted their price target on shares of American Electric Power from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. Finally, Wells Fargo & Company lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $101.00 to $88.00 in a research note on Wednesday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $92.33.
About American Electric Power
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
Recommended Story: Straddles
Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP).
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.