Clearbridge Investments LLC Has $2.46 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Clearbridge Investments LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,582 shares of the company’s stock after selling 653 shares during the period. Clearbridge Investments LLC’s holdings in American Electric Power were worth $2,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEP. Nomura Holdings Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at about $175,667,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares during the period. Nordea Investment Management AB increased its holdings in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after purchasing an additional 1,043,885 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at about $67,669,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AEP shares. Barclays boosted their price target on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. BMO Capital Markets boosted their price target on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Wells Fargo & Company boosted their price target on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Scotiabank boosted their price target on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.77.

Insider Transactions at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power 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 sale, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Price Performance

Shares of AEP stock traded up $1.15 during trading hours on Thursday, hitting $96.17. 118,464 shares of the company’s stock were exchanged, compared to its average volume of 3,241,926. The stock’s 50-day moving average is $89.51 and its 200-day moving average is $85.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. The stock has a market cap of $50.69 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $96.32.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.66%. American Electric Power’s payout ratio is presently 65.31%.

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.