Kentucky Retirement Systems Insurance Trust Fund Sells 1,381 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,354 shares of the company’s stock after selling 1,381 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in American Electric Power were worth $1,494,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AEP. Vanguard Group Inc. lifted its stake in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after acquiring an additional 405,114 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of American Electric Power by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,983,393 shares of the company’s stock valued at $242,311,000 after purchasing an additional 147,826 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in American Electric Power by 67.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after purchasing an additional 1,043,885 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ:AEP traded up $0.61 during mid-day trading on Friday, hitting $96.45. 2,275,133 shares of the stock traded hands, compared to its average volume of 2,204,326. The business’s 50-day moving average price is $89.65 and its 200 day moving average price is $85.41. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market cap of $50.84 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.78 and a beta of 0.53. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $97.32.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the previous year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.65%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Insider Transactions at American Electric Power

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AEP. Barclays boosted their target price on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Scotiabank boosted their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley dropped their target price on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, BMO Capital Markets upped their price objective on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.77.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.