American International Group Inc. Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

American International Group Inc. trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,266 shares of the company’s stock after selling 850 shares during the period. American International Group Inc.’s holdings in American Electric Power were worth $14,574,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AEP. Frazier Financial Advisors LLC bought a new position in shares of American Electric Power in the 4th quarter worth $26,000. Denali Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter worth $26,000. Rise Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter worth $27,000. YHB Investment Advisors Inc. bought a new position in shares of American Electric Power in the 1st quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of American Electric Power in the 4th quarter worth $32,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AEP. StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley reduced their target price on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. BMO Capital Markets upped their target price on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Barclays upped their target price on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Scotiabank upped their target price on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $88.77.

Insiders Place Their Bets

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the transaction, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

American Electric Power Stock Performance

Shares of AEP traded up $0.87 during mid-day trading on Thursday, reaching $95.89. The company had a trading volume of 1,136,669 shares, compared to its average volume of 3,248,520. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $97.32. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $50.55 billion, a P/E ratio of 17.88, a PEG ratio of 2.77 and a beta of 0.53. The stock has a 50 day moving average of $89.51 and a two-hundred day moving average of $85.25.

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

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.67%. American Electric Power’s payout ratio is 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.