Elo Mutual Pension Insurance Co Makes New $3.34 Million Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Elo Mutual Pension Insurance Co purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,591 shares of the company’s stock, valued at approximately $3,344,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of American Electric Power by 4.1% in the third quarter. BlackRock Inc. now owns 39,550,514 shares of the company’s stock worth $3,210,708,000 after buying an additional 1,569,233 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of American Electric Power by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,398,310 shares of the company’s stock worth $1,250,036,000 after buying an additional 1,430,681 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of American Electric Power by 2.3% in the third quarter. Franklin Resources Inc. now owns 13,347,345 shares of the company’s stock worth $1,083,540,000 after buying an additional 303,065 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of American Electric Power by 2.8% in the third quarter. Capital Research Global Investors now owns 8,339,118 shares of the company’s stock worth $676,970,000 after buying an additional 228,671 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of American Electric Power by 1.9% in the third quarter. Geode Capital Management LLC now owns 7,979,002 shares of the company’s stock worth $645,812,000 after buying an additional 151,838 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Shares of AEP traded down $3.32 during midday trading on Friday, hitting $99.11. The stock had a trading volume of 3,589,159 shares, compared to its average volume of 2,498,594. American Electric Power Company, Inc. has a 1 year low of $80.22 and a 1 year high of $104.81. The firm has a market cap of $50.01 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.46 and a beta of 0.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.63 and a quick ratio of 0.55. The stock’s 50 day moving average is $97.94 and its 200 day moving average is $90.38.

American Electric Power (NASDAQ:AEPGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.37 billion. American Electric Power had a net margin of 14.80% and a return on equity of 10.78%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 4.99 earnings per share for the current fiscal year.

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 given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, May 9th. American Electric Power’s payout ratio is 59.66%.

In other American Electric Power news, EVP David Matthew Feinberg sold 2,699 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $100.85, for a total value of $272,194.15. Following the completion of the sale, the executive vice president now directly owns 16,302 shares in the company, valued at approximately $1,644,056.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Charles R. Patton sold 5,575 shares of the company’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $87.19, for a total value of $486,084.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,562 shares of company stock worth $3,040,061. 0.12% of the stock is owned by insiders.

Several equities analysts have recently commented on AEP shares. StockNews.com started coverage on shares of American Electric Power in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada upped their price target on shares of American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Mizuho upped their price target on shares of American Electric Power from $94.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 29th. Morgan Stanley upped their price target on shares of American Electric Power from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Credit Suisse Group started coverage on shares of American Electric Power in a research note on Monday, April 25th. They set an “outperform” rating and a $113.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $104.70.

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.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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