Cascade Investment Group Inc. acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,651 shares of the company’s stock, valued at approximately $252,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. ST Germain D J Co. Inc. raised its position in American Electric Power by 26.8% during the 4th quarter. ST Germain D J Co. Inc. now owns 7,222 shares of the company’s stock worth $146,000 after buying an additional 1,528 shares during the last quarter. CVA Family Office LLC raised its holdings in American Electric Power by 43.1% during the fourth quarter. CVA Family Office LLC now owns 1,362 shares of the company’s stock worth $129,000 after purchasing an additional 410 shares in the last quarter. Macquarie Group Ltd. lifted its position in American Electric Power by 34.2% in the fourth quarter. Macquarie Group Ltd. now owns 2,827,053 shares of the company’s stock valued at $202,034,000 after purchasing an additional 721,058 shares during the period. Insight Advisors LLC PA purchased a new stake in American Electric Power in the 4th quarter valued at approximately $210,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in American Electric Power by 2.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,969 shares of the company’s stock worth $4,745,000 after purchasing an additional 1,180 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other American Electric Power news, insider Nicholas K. Akins sold 10,491 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $92.75, for a total value of $973,040.25. Following the sale, the insider now directly owns 125,520 shares in the company, valued at $11,641,980. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other American Electric Power news, insider Nicholas K. Akins sold 10,491 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $92.75, for a total value of $973,040.25. Following the sale, the insider now directly owns 125,520 shares in the company, valued at $11,641,980. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 1,616 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $92.75, for a total transaction of $149,884.00. Following the completion of the sale, the executive vice president now owns 8,925 shares in the company, valued at $827,793.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,104 shares of company stock worth $1,489,409. Company insiders own 0.12% of the company’s stock.
American Electric Power Price Performance
American Electric Power (NASDAQ:AEP – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.03). The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.57 billion. American Electric Power had a net margin of 10.10% and a return on equity of 10.57%. American Electric Power’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. On average, analysts forecast that American Electric Power Company, Inc. will post 5.27 EPS for the current fiscal year.
American Electric Power Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were issued a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $3.32 annualized dividend and a yield of 3.91%. American Electric Power’s dividend payout ratio (DPR) is presently 85.79%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AEP. BMO Capital Markets increased their target price on American Electric Power from $100.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. The Goldman Sachs Group began coverage on American Electric Power in a research note on Wednesday, June 7th. They set a “buy” rating and a $98.00 target price for the company. Mizuho cut their target price on American Electric Power from $100.00 to $94.00 in a research note on Monday, June 5th. Royal Bank of Canada cut their target price 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. Finally, LADENBURG THALM/SH SH began coverage on American Electric Power in a research note on Monday, April 3rd. They set a “sell” rating and a $82.50 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.23.
American Electric Power Profile
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.
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