Insider Selling: American Electric Power Company, Inc. (NASDAQ:AEP) EVP Sells 8,057 Shares of Stock

American Electric Power Company, Inc. (NASDAQ:AEP) EVP David Matthew Feinberg sold 8,057 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the transaction, the executive vice president now owns 26,298 shares of the company’s stock, valued at $2,707,116.12. This represents a 23.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

American Electric Power Stock Performance

Shares of AEP opened at $101.85 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The business has a 50-day simple moving average of $104.72 and a two-hundred day simple moving average of $100.90. The stock has a market cap of $54.41 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.97 and a beta of 0.42. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Institutional Trading of American Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of AEP. DAVENPORT & Co LLC grew its position in shares of American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after purchasing an additional 3,288 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of American Electric Power by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company’s stock worth $315,498,000 after purchasing an additional 738,756 shares in the last quarter. W.H. Cornerstone Investments Inc. grew its position in shares of American Electric Power by 89.7% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 6,398 shares of the company’s stock worth $590,000 after purchasing an additional 3,026 shares in the last quarter. Certuity LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth about $245,000. Finally, Avidian Wealth Enterprises LLC bought a new position in American Electric Power during the fourth quarter valued at approximately $372,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AEP shares. Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Morgan Stanley decreased their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.69.

About American Electric Power

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.