Parsec Financial Management Inc. decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,586 shares of the company’s stock after selling 231 shares during the period. Parsec Financial Management Inc.’s holdings in American Electric Power were worth $319,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AEP. Arlington Partners LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at about $39,000. Consolidated Planning Corp acquired a new position in shares of American Electric Power in the 3rd quarter valued at about $42,000. PYA Waltman Capital LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at approximately $44,000. Finally, Old North State Trust LLC grew its stake in shares of American Electric Power by 38.8% in the 4th quarter. Old North State Trust LLC now owns 615 shares of the company’s stock valued at $55,000 after buying an additional 172 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.
Shares of AEP stock traded down $3.32 during trading hours on Friday, reaching $99.11. 3,589,159 shares of the company’s stock were exchanged, compared to its average volume of 2,498,594. American Electric Power Company, Inc. has a fifty-two week low of $80.22 and a fifty-two week high of $104.81. The stock has a market capitalization of $50.01 billion, a P/E ratio of 18.95, a P/E/G ratio of 3.46 and a beta of 0.35. The business has a fifty day moving average price of $97.94 and a 200-day moving average price of $90.38. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.38.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, May 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. American Electric Power’s payout ratio is 59.66%.
Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their price target on American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Wells Fargo & Company raised American Electric Power from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $93.00 to $101.00 in a research note on Monday, February 28th. Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, March 14th. Credit Suisse Group started coverage on American Electric Power in a research note on Monday, April 25th. They issued an “outperform” rating and a $113.00 price target for the company. Finally, StockNews.com started coverage on American Electric Power in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Buy” and an average target price of $104.70.
In other American Electric Power news, EVP David Matthew Feinberg sold 2,699 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $100.85, for a total transaction of $272,194.15. Following the completion of the transaction, the executive vice president now directly owns 16,302 shares in the company, valued at $1,644,056.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg B. Hall sold 1,064 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $85.71, for a total value of $91,195.44. The disclosure for this sale can be found here. Insiders sold 32,562 shares of company stock valued at $3,040,061 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.
American Electric Power Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on American Electric Power (AEP)
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