Russell Investments Group Ltd. Trims Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Russell Investments Group Ltd. trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 138,197 shares of the company’s stock after selling 18,289 shares during the period. Russell Investments Group Ltd.’s holdings in American Electric Power were worth $11,225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AEP. Wetzel Investment Advisors Inc. purchased a new stake in American Electric Power during the 4th quarter worth approximately $32,000. GoalVest Advisory LLC increased its stake in American Electric Power by 304.8% during the 4th quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the period. JNBA Financial Advisors increased its stake in American Electric Power by 91.6% during the 3rd quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after buying an additional 229 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in American Electric Power during the 3rd quarter worth approximately $36,000. Finally, Byrne Asset Management LLC purchased a new stake in American Electric Power during the 3rd quarter worth approximately $38,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AEP shares. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. LADENBURG THALM/SH SH cut shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $75.50 to $73.00 in a report on Friday, March 8th. 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. BMO Capital Markets boosted their price target on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $88.14.

American Electric Power Trading Up 0.4 %

Shares of American Electric Power stock opened at $88.60 on Monday. The stock has a market cap of $46.70 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.74 and a beta of 0.50. The company has a fifty day simple moving average of $84.10 and a 200-day simple moving average of $80.94. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.50. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $92.88.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. American Electric Power’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

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.