IFG Advisory LLC Has $233,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Posted by Defense World Staff on Apr 16th, 2023

IFG Advisory LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,464 shares of the company’s stock after selling 2,642 shares during the period. IFG Advisory LLC’s holdings in American Electric Power were worth $233,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AEP. Fairfield Bush & CO. acquired a new position in American Electric Power in the 1st quarter worth about $40,000. Westwood Holdings Group Inc. acquired a new position in American Electric Power in the 1st quarter worth about $211,000. Cibc World Market Inc. increased its position in American Electric Power by 13.1% in the 1st quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock worth $3,074,000 after purchasing an additional 3,558 shares during the last quarter. Sei Investments Co. increased its position in American Electric Power by 17.7% in the 1st quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock worth $20,569,000 after purchasing an additional 30,836 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of American Electric Power by 1.6% during the 1st quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock worth $3,643,000 after acquiring an additional 577 shares in the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 3,997 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $91.69, for a total value of $366,484.93. Following the completion of the transaction, the executive vice president now owns 11,871 shares of the company’s stock, valued at approximately $1,088,451.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Nicholas K. Akins sold 51,034 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $89.44, for a total value of $4,564,480.96. Following the completion of the transaction, the insider now directly owns 143,547 shares of the company’s stock, valued at approximately $12,838,843.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Matthew Feinberg sold 3,997 shares of the stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $91.69, for a total value of $366,484.93. Following the completion of the transaction, the executive vice president now directly owns 11,871 shares of the company’s stock, valued at $1,088,451.99. The disclosure for this sale can be found here. Insiders sold a total of 67,894 shares of company stock valued at $6,090,385 in the last quarter. Corporate insiders own 0.12% of the company’s stock.

American Electric Power Trading Down 1.6 %

American Electric Power stock opened at $92.50 on Friday. The business has a 50 day moving average price of $90.54 and a two-hundred day moving average price of $91.57. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.39. The stock has a market cap of $47.58 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.95 and a beta of 0.45. American Electric Power Company, Inc. has a 12 month low of $80.30 and a 12 month high of $105.60.

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

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 10th were issued a $0.83 dividend. The ex-dividend date was Thursday, February 9th. This represents a $3.32 annualized dividend and a yield of 3.59%. American Electric Power’s dividend payout ratio (DPR) is 73.61%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on American Electric Power from $107.00 to $101.00 and set an “overweight” rating for the company in a research note on Tuesday, March 21st. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $108.00 to $99.00 in a research note on Wednesday, February 1st. Royal Bank of Canada decreased their price target on 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. StockNews.com initiated coverage on American Electric Power in a research note on Friday, March 17th. They set a “hold” rating for the company. Finally, Cfra upped their price target on American Electric Power from $93.00 to $96.00 and gave the stock a “hold” rating in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.96.

About American Electric Power

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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.