Clearstead Advisors LLC Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Clearstead Advisors LLC increased its position in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 28.1% in the 3rd quarter, Holdings Channel reports. The firm owned 5,568 shares of the company’s stock after buying an additional 1,222 shares during the period. Clearstead Advisors LLC’s holdings in American Electric Power were worth $481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Covington Capital Management lifted its holdings in shares of American Electric Power by 200.0% in the 3rd quarter. Covington Capital Management now owns 450 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. CreativeOne Wealth LLC raised its stake in American Electric Power by 7.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,400 shares of the company’s stock valued at $380,000 after acquiring an additional 302 shares during the last quarter. Enlightenment Research LLC purchased a new stake in American Electric Power during the 3rd quarter valued at approximately $718,000. Jane Street Group LLC raised its stake in American Electric Power by 234.2% during the 3rd quarter. Jane Street Group LLC now owns 443,187 shares of the company’s stock valued at $38,314,000 after acquiring an additional 310,592 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in American Electric Power by 2.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 12,318 shares of the company’s stock valued at $1,065,000 after acquiring an additional 259 shares during the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Electric Power

In related news, EVP Greg B. Hall sold 884 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.99, for a total value of $80,435.16. Following the sale, the executive vice president now owns 7,331 shares of the company’s stock, valued at approximately $667,047.69. The transaction was disclosed in a filing with the SEC, which is available through this link. In other American Electric Power news, EVP David Matthew Feinberg sold 3,998 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $89.44, for a total transaction of $357,581.12. Following the transaction, the executive vice president now owns 15,714 shares of the company’s stock, valued at approximately $1,405,460.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg B. Hall sold 884 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.99, for a total value of $80,435.16. Following the transaction, the executive vice president now directly owns 7,331 shares in the company, valued at approximately $667,047.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,897 shares of company stock valued at $5,723,900. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AEP has been the subject of several analyst reports. Cfra upped their price objective on American Electric Power from $93.00 to $96.00 and gave the company a “hold” rating in a research note on Friday, February 24th. BMO Capital Markets upped their price objective on American Electric Power from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, December 16th. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $108.00 to $99.00 in a research note on Wednesday, February 1st. Mizuho dropped their target price on American Electric Power from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Friday, December 16th. Finally, Royal Bank of Canada dropped their target price on American Electric Power from $109.00 to $103.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and an average target price of $100.83.

American Electric Power Stock Performance

AEP opened at $90.25 on Wednesday. The stock has a market cap of $46.38 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.72 and a beta of 0.44. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $91.95 and its 200 day simple moving average is $91.33. American Electric Power Company, Inc. has a 1-year low of $80.30 and a 1-year high of $105.60.

American Electric Power (NASDAQ:AEP – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. American Electric Power had a return on equity of 10.75% and a net margin of 11.77%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.27 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Thursday, February 9th. American Electric Power’s payout ratio is currently 73.61%.

American Electric Power Profile

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.