Sumitomo Mitsui Trust Holdings Inc. Buys 22,048 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,389,249 shares of the company’s stock after acquiring an additional 22,048 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of American Electric Power worth $119,614,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of American Electric Power during the 4th quarter valued at approximately $175,667,000. Envestnet Asset Management Inc. boosted its position in shares of American Electric Power by 67.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after acquiring an additional 1,043,885 shares during the last quarter. Morgan Stanley grew its holdings in shares of American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares in the last quarter. Finally, First Financial Bankshares Inc bought a new stake in American Electric Power in the fourth quarter worth $47,326,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AEP. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Wells Fargo & Company upped their price objective on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Morgan Stanley dropped their price objective on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.62.

Read Our Latest Report on AEP

American Electric Power Stock Performance

American Electric Power stock opened at $87.56 on Thursday. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44. The company has a market capitalization of $46.15 billion, a PE ratio of 16.24, a P/E/G ratio of 2.60 and a beta of 0.53. The company has a 50 day moving average price of $88.90 and a 200-day moving average price of $84.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54.

American Electric Power (NASDAQ:AEPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.02%. American Electric Power’s dividend payout ratio is currently 65.31%.

Insider Transactions at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power 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 transaction, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Electric Power Company Profile

(Free Report)

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.

Further Reading

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

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