Vestcor Inc Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Vestcor Inc trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,077 shares of the company’s stock after selling 2,830 shares during the period. Vestcor Inc’s holdings in American Electric Power were worth $5,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake 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. B. Metzler seel. Sohn & Co. AG increased its stake in American Electric Power by 7.3% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 18,982 shares of the company’s stock valued at $1,751,000 after purchasing an additional 1,290 shares in the last quarter. Diametric Capital LP acquired a new position in American Electric Power during the 4th quarter valued at approximately $208,000. Geode Capital Management LLC increased its stake in American Electric Power by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company’s stock valued at $1,178,174,000 after purchasing an additional 283,311 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in American Electric Power during the 4th quarter valued at approximately $3,258,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president directly owned 9,658 shares of the company’s stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

American Electric Power Stock Performance

American Electric Power stock opened at $113.25 on Thursday. The company has a market cap of $60.50 billion, a PE ratio of 21.82, a P/E/G ratio of 2.90 and a beta of 0.42. The company has a fifty day moving average price of $104.17 and a two-hundred day moving average price of $103.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $114.23.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.85 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. Research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power’s dividend payout ratio is currently 71.68%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. UBS Group raised their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a research report on Friday, June 6th. Raymond James Financial assumed coverage on shares of American Electric Power in a research report on Friday, June 13th. They set an “outperform” rating and a $115.00 price objective for the company. Citigroup lifted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price target on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $108.31.

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.