Assenagon Asset Management S.A. Has $40.07 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Assenagon Asset Management S.A. boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1,140.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 456,686 shares of the company’s stock after acquiring an additional 419,870 shares during the period. Assenagon Asset Management S.A.’s holdings in American Electric Power were worth $40,070,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Frazier Financial Advisors LLC purchased a new position in American Electric Power during the 4th quarter worth $26,000. Denali Advisors LLC bought a new stake in American Electric Power in the 1st quarter worth about $26,000. Rise Advisors LLC purchased a new stake in American Electric Power in the 1st quarter valued at about $27,000. YHB Investment Advisors Inc. bought a new position in shares of American Electric Power during the 1st quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of American Electric Power in the 4th quarter worth approximately $32,000. 75.24% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

AEP has been the topic of a number of recent analyst reports. Barclays lifted their price target on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. BMO Capital Markets raised their price objective on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Scotiabank boosted their target price on shares of American Electric Power from $90.00 to $99.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Bank of America lowered shares of American Electric Power from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $96.00 to $97.00 in a research note on Tuesday, August 6th. Finally, LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $93.38.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.38 during trading on Friday, hitting $96.94. 2,978,604 shares of the company were exchanged, compared to its average volume of 3,292,669. The company has a market cap of $51.10 billion, a PE ratio of 17.99, a P/E/G ratio of 2.92 and a beta of 0.53. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.37. The stock has a 50 day moving average of $92.23 and a 200 day moving average of $87.35.

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

American Electric Power Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, August 9th. American Electric Power’s dividend payout ratio is presently 65.31%.

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.