113,087 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) in the third quarter, HoldingsChannel.com reports. The firm bought 113,087 shares of the company’s stock, valued at approximately $9,776,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. Neo Ivy Capital Management boosted its stake in shares of American Electric Power by 12.7% during the 2nd quarter. Neo Ivy Capital Management now owns 899 shares of the company’s stock worth $86,000 after buying an additional 101 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of American Electric Power by 2.0% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock worth $592,000 after buying an additional 117 shares during the last quarter. McDonough Capital Management Inc boosted its stake in shares of American Electric Power by 4.3% during the 3rd quarter. McDonough Capital Management Inc now owns 2,892 shares of the company’s stock worth $250,000 after buying an additional 119 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of American Electric Power by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock worth $2,445,000 after buying an additional 119 shares during the last quarter. Finally, Cornerstone Advisory LLC boosted its stake in shares of American Electric Power by 3.8% during the 3rd quarter. Cornerstone Advisory LLC now owns 3,402 shares of the company’s stock worth $294,000 after buying an additional 125 shares during the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Down 0.6 %

American Electric Power stock opened at $92.01 on Friday. The stock has a market cap of $47.28 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.78 and a beta of 0.44. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.39. American Electric Power Company, Inc. has a twelve month low of $80.30 and a twelve month high of $105.60. The company’s 50-day moving average price is $91.86 and its two-hundred day moving average price is $91.29.

American Electric Power (NASDAQ:AEP – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. American Electric Power had a net margin of 11.77% and a return on equity of 10.75%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the firm earned $0.98 earnings per share. As a group, analysts expect that American Electric Power Company, Inc. will post 5.26 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 10th were issued a dividend of $0.83 per share. The ex-dividend date was Thursday, February 9th. This represents a $3.32 annualized dividend and a dividend yield of 3.61%. American Electric Power’s dividend payout ratio is presently 73.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AEP shares. Royal Bank of Canada reduced their price objective on shares of American Electric Power from $109.00 to $103.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. BMO Capital Markets upped their target price on shares of American Electric Power from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, December 16th. Morgan Stanley dropped their target price on shares of American Electric Power from $112.00 to $107.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Cfra upped their target price on shares of American Electric Power from $93.00 to $96.00 and gave the company a “hold” rating in a report on Friday, February 24th. Finally, Credit Suisse Group upped their target price on shares of American Electric Power from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, December 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.83.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 3,998 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $89.44, for a total transaction of $357,581.12. Following the transaction, the executive vice president now directly owns 15,714 shares of the company’s stock, valued at $1,405,460.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David Matthew Feinberg sold 3,998 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $89.44, for a total transaction of $357,581.12. Following the sale, the executive vice president now owns 15,714 shares in the company, valued at approximately $1,405,460.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas K. Akins sold 6,977 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $90.39, for a total transaction of $630,651.03. Following the sale, the insider now owns 143,547 shares in the company, valued at approximately $12,975,213.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,897 shares of company stock valued at $5,723,900. 0.12% of the stock is currently owned by company insiders.

American Electric Power Company 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.