Prudent Man Advisors LLC Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Prudent Man Advisors LLC reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,011 shares of the company’s stock after selling 127 shares during the period. Prudent Man Advisors LLC’s holdings in American Electric Power were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. BlackRock Inc. grew its stake in American Electric Power by 4.8% during the 4th quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock valued at $3,688,814,000 after purchasing an additional 1,910,807 shares during the last quarter. Marshall Wace LLP boosted its position in American Electric Power by 1,477.3% in the fourth quarter. Marshall Wace LLP now owns 1,066,861 shares of the company’s stock valued at $94,919,000 after buying an additional 999,221 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in American Electric Power by 32.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,493,365 shares of the company’s stock worth $310,805,000 after buying an additional 863,190 shares during the period. Invesco Ltd. raised its position in American Electric Power by 11.0% during the 4th quarter. Invesco Ltd. now owns 8,188,478 shares of the company’s stock worth $728,529,000 after buying an additional 811,843 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in American Electric Power by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 8,498,401 shares of the company’s stock valued at $753,951,000 after acquiring an additional 519,399 shares during the period. 73.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEP shares. Credit Suisse Group boosted their price objective on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Morgan Stanley dropped their price objective on shares of American Electric Power from $113.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday, June 23rd. Finally, Citigroup increased their price target on shares of American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.67.

American Electric Power Stock Performance

NASDAQ:AEP opened at $99.46 on Friday. The company’s 50-day moving average is $95.90 and its two-hundred day moving average is $95.93. The firm has a market capitalization of $51.10 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.23 and a beta of 0.35. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.66. American Electric Power Company, Inc. has a 1-year low of $80.22 and a 1-year high of $104.81.

American Electric Power (NASDAQ:AEPGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $3.98 billion. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. American Electric Power’s payout ratio is presently 61.30%.

Insider Buying and Selling at American Electric Power

In related news, EVP Therace Risch sold 5,330 shares of American Electric Power stock in a transaction on Monday, June 6th. The stock was sold at an average price of $102.35, for a total value of $545,525.50. Following the completion of the transaction, the executive vice president now directly owns 8,248 shares in the company, valued at $844,182.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Therace Risch sold 5,330 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $102.35, for a total value of $545,525.50. Following the transaction, the executive vice president now owns 8,248 shares in the company, valued at approximately $844,182.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles E. Zebula sold 1,902 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $99.05, for a total value of $188,393.10. Following the sale, the executive vice president now directly owns 18,134 shares in the company, valued at approximately $1,796,172.70. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Electric Power Profile

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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.

See Also

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

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