Shell Asset Management Co. Buys 641 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Shell Asset Management Co. boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,810 shares of the company’s stock after purchasing an additional 641 shares during the period. Shell Asset Management Co.’s holdings in American Electric Power were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Brown Advisory Inc. lifted its position in American Electric Power by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 13,818 shares of the company’s stock valued at $1,229,000 after purchasing an additional 714 shares during the period. National Asset Management Inc. raised its position in American Electric Power by 3.9% in the fourth quarter. National Asset Management Inc. now owns 9,038 shares of the company’s stock worth $805,000 after acquiring an additional 341 shares during the period. Commonwealth Equity Services LLC raised its position in American Electric Power by 1.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 235,549 shares of the company’s stock worth $20,956,000 after acquiring an additional 2,303 shares during the period. Vestmark Advisory Solutions Inc. raised its position in American Electric Power by 6.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 7,593 shares of the company’s stock worth $676,000 after acquiring an additional 458 shares during the period. Finally, Yousif Capital Management LLC bought a new position in American Electric Power in the fourth quarter worth approximately $8,877,000. Institutional investors own 73.26% of the company’s stock.

Insider Activity at American Electric Power

In related news, EVP Therace Risch sold 5,330 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $102.35, for a total transaction of $545,525.50. Following the completion of the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at $844,182.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Electric Power news, CFO Julia A. Sloat sold 1,803 shares of American Electric Power stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $100.15, for a total value of $180,570.45. Following the completion of the transaction, the chief financial officer now directly owns 34,871 shares of the company’s stock, valued at approximately $3,492,330.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $545,525.50. Following the completion of the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at $844,182.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,406 shares of company stock valued at $1,852,995. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEP. Morgan Stanley decreased their price target on shares of American Electric Power from $113.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, June 23rd. BMO Capital Markets reissued a “maintains” rating on shares of American Electric Power in a research note on Thursday. Credit Suisse Group increased their price objective on shares of American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup increased their price objective on shares of American Electric Power from $94.00 to $99.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Moderate Buy” and an average price target of $102.67.

American Electric Power Stock Performance

AEP opened at $98.56 on Monday. The stock has a market capitalization of $50.61 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.09 and a beta of 0.36. The company has a fifty day moving average of $96.19 and a 200 day moving average of $95.65. American Electric Power Company, Inc. has a fifty-two week low of $80.22 and a fifty-two week high of $104.81. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.61.

American Electric Power (NASDAQ:AEPGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $3.98 billion. American Electric Power had a net margin of 15.34% and a return on equity of 10.65%. American Electric Power’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.03 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $3.12 annualized dividend and a yield of 3.17%. American Electric Power’s payout ratio is 59.66%.

About American Electric Power

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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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