Advanced Asset Management Advisors Inc Acquires Shares of 23,225 American Electric Power Company, Inc. (NASDAQ:AEP)

Advanced Asset Management Advisors Inc purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,225 shares of the company’s stock, valued at approximately $2,038,000.

Several other large investors have also recently added to or reduced their stakes in AEP. Rockline Wealth Management LLC grew its position in shares of American Electric Power by 1.5% during the second quarter. Rockline Wealth Management LLC now owns 25,562 shares of the company’s stock worth $2,243,000 after acquiring an additional 368 shares during the last quarter. Versor Investments LP acquired a new stake in shares of American Electric Power in the second quarter valued at approximately $1,590,000. Elevated Capital Advisors LLC bought a new stake in shares of American Electric Power during the second quarter valued at approximately $719,000. Financial Counselors Inc. boosted its position in shares of American Electric Power by 0.9% during the second quarter. Financial Counselors Inc. now owns 66,870 shares of the company’s stock worth $5,867,000 after buying an additional 589 shares during the period. Finally, Natixis Advisors LLC grew its holdings in American Electric Power by 12.8% in the 2nd quarter. Natixis Advisors LLC now owns 447,308 shares of the company’s stock worth $39,247,000 after buying an additional 50,920 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on AEP. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. BMO Capital Markets increased their price target on American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank upped their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.77.

Insider Activity

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 shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $100.28 on Tuesday. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market cap of $53.36 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The firm’s 50-day simple moving average is $94.62 and its 200-day simple moving average is $89.08.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 3.51%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio is currently 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.