Private Trust Co. NA Buys 303 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Private Trust Co. NA grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,578 shares of the company’s stock after acquiring an additional 303 shares during the quarter. Private Trust Co. NA’s holdings in American Electric Power were worth $1,055,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in American Electric Power in the 4th quarter worth about $354,042,000. BlackRock Inc. increased its holdings in American Electric Power by 4.8% in the 4th quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock worth $3,688,814,000 after buying an additional 1,910,807 shares in the last quarter. Marshall Wace LLP increased its holdings in American Electric Power by 1,477.3% in the 4th quarter. Marshall Wace LLP now owns 1,066,861 shares of the company’s stock worth $94,919,000 after buying an additional 999,221 shares in 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 in the last quarter. Finally, Invesco Ltd. increased its holdings in American Electric Power by 11.0% in 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 in the last quarter. Hedge funds and other institutional investors own 73.26% of the company’s stock.

AEP stock opened at $90.31 on Thursday. American Electric Power Company, Inc. has a twelve month low of $80.22 and a twelve month high of $104.81. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.28. The stock has a market cap of $46.38 billion, a P/E ratio of 17.27, a PEG ratio of 2.90 and a beta of 0.34. The business’s 50-day moving average price is $99.02 and its 200-day moving average price is $94.36.

American Electric Power (NASDAQ:AEPGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. American Electric Power had a return on equity of 10.65% and a net margin of 15.34%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.45%. American Electric Power’s payout ratio is currently 59.66%.

In related news, EVP David Matthew Feinberg sold 2,890 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $99.47, for a total value of $287,468.30. Following the transaction, the executive vice president now directly owns 11,395 shares of the company’s stock, valued at approximately $1,133,460.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Lisa M. Barton sold 8,612 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $100.15, for a total value of $862,491.80. Following the completion of the transaction, the chief operating officer now directly owns 13,712 shares in the company, valued at $1,373,256.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,995 shares of company stock worth $2,412,657. Insiders own 0.12% of the company’s stock.

AEP has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on American Electric Power from $101.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. StockNews.com started coverage on American Electric Power in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group started coverage on American Electric Power in a research report on Monday, April 25th. They issued an “outperform” rating and a $113.00 target price on the stock. Morgan Stanley dropped their target price on American Electric Power from $117.00 to $113.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Finally, Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.98.

American Electric Power Profile (Get Rating)

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.

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

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