American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,213 shares of the company’s stock after purchasing an additional 16,572 shares during the period. Fifth Third Bancorp’s holdings in American Electric Power were worth $17,567,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Hodges Capital Management Inc. bought a new position in shares of American Electric Power during the first quarter valued at approximately $1,615,000. Quantbot Technologies LP bought a new stake in American Electric Power in the 1st quarter valued at about $1,731,000. Nordea Investment Management AB boosted its stake in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC increased its stake in shares of American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after purchasing an additional 226,435 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after buying an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ:AEP traded up $0.37 during trading hours on Wednesday, hitting $98.01. 2,220,013 shares of the company traded hands, compared to its average volume of 3,268,116. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.41. The firm has a 50-day moving average of $92.60 and a 200 day moving average of $87.74. The stock has a market capitalization of $51.66 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Royal Bank of Canada upped their price objective on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Finally, Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $94.08.

Insider Buying and Selling at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction 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 completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.