Patriot Financial Group Insurance Agency LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 2,188 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds have also recently modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of American Electric Power during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power during the 4th quarter worth about $28,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power during the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of American Electric Power during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in American Electric Power during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $101.87 on Wednesday. The firm’s 50 day moving average price is $104.16 and its 200-day moving average price is $101.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The firm has a market cap of $54.42 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.97 and a beta of 0.42.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. American Electric Power’s dividend payout ratio is currently 71.68%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the transaction, the executive vice president now owns 9,658 shares of the company’s stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AEP. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. BMO Capital Markets upped their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Barclays upped their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Guggenheim increased their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Bank of America increased their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.75.

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.