Goelzer Investment Management Inc. Sells 888 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Goelzer Investment Management Inc. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 77,299 shares of the company’s stock after selling 888 shares during the period. Goelzer Investment Management Inc.’s holdings in American Electric Power were worth $8,446,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AEP. Brighton Jones LLC boosted its position in shares of American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after acquiring an additional 1,095 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in American Electric Power in the fourth quarter valued at approximately $35,000. Global Retirement Partners LLC raised its stake in shares of American Electric Power by 7.7% during the fourth quarter. Global Retirement Partners LLC now owns 6,198 shares of the company’s stock valued at $572,000 after acquiring an additional 444 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of American Electric Power by 2.7% during the fourth quarter. Private Advisor Group LLC now owns 56,880 shares of the company’s stock valued at $5,246,000 after acquiring an additional 1,505 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of American Electric Power by 2.8% during the fourth quarter. First Horizon Advisors Inc. now owns 180,340 shares of the company’s stock valued at $16,633,000 after acquiring an additional 4,965 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Electric Power

In other 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 transaction of $1,041,277.88. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the sale, the executive vice president now directly owns 26,298 shares in the company, valued at $2,707,116.12. The trade was a 23.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Barclays lifted 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 report on Tuesday, April 22nd. Raymond James Financial assumed coverage on shares of American Electric Power in a report on Friday, June 13th. They set an “outperform” rating and a $115.00 price target on the stock. Morgan Stanley dropped their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Guggenheim boosted their target price 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $108.31.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $101.75 on Monday. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The firm’s 50 day simple moving average is $104.05 and its two-hundred day simple moving average is $101.27. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The company has a market capitalization of $54.35 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.70 and a beta of 0.42.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. Research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

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.