OneAscent Financial Services LLC Has $483,000 Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

OneAscent Financial Services LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,611 shares of the company’s stock after selling 207 shares during the quarter. OneAscent Financial Services LLC’s holdings in American Electric Power were worth $483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of American Electric Power by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 49,225,322 shares of the company’s stock worth $3,998,081,000 after buying an additional 425,649 shares during the period. Wellington Management Group LLP grew its position in shares of American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares during the period. Morgan Stanley grew its position in shares of American Electric Power by 4.1% during the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after buying an additional 587,145 shares during the period. Royal Bank of Canada grew its holdings in American Electric Power by 5.1% during the third quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock valued at $580,308,000 after purchasing an additional 374,300 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in American Electric Power by 18.1% during the third quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after purchasing an additional 660,599 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AEP. Morgan Stanley decreased their price objective on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, June 24th. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $86.00 to $83.00 in a report on Monday, March 11th. Scotiabank boosted their price objective on shares of American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a report on Wednesday, May 1st. BMO Capital Markets boosted their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Finally, Barclays boosted their price objective on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.62.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.56 on Friday, hitting $87.74. The company had a trading volume of 3,685,946 shares, compared to its average volume of 2,534,441. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $93.44. The stock has a market cap of $46.25 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 2.62 and a beta of 0.53. The stock has a 50 day moving average price of $88.79 and a 200 day moving average price of $84.13. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company earned $1.11 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.01%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Insider Activity at American Electric Power

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

American Electric Power 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.