Riverview Trust Co Makes New $62,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Riverview Trust Co bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 720 shares of the company’s stock, valued at approximately $62,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of American Electric Power by 14.4% in the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after buying an additional 3,589,451 shares during the period. Nomura Holdings Inc. bought a new stake in American Electric Power in the 4th quarter valued at $175,667,000. Envestnet Asset Management Inc. lifted its position in 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 acquiring an additional 1,043,885 shares in the last quarter. Lazard Asset Management LLC lifted its position in American Electric Power by 18.1% in the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after acquiring an additional 660,599 shares in the last quarter. Finally, Morgan Stanley lifted its position in American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after acquiring an additional 587,145 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insiders Place Their Bets

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Antonio P. Smyth sold 4,898 shares of the company’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 transaction of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the company’s stock in a transaction that occurred on 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 directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Stock Down 1.4 %

Shares of AEP opened at $86.89 on Wednesday. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $93.44. The firm has a market cap of $45.80 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53. The firm’s 50-day simple moving average is $88.49 and its 200 day simple moving average is $84.03. 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:AEP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business earned $1.11 EPS. American Electric Power’s quarterly revenue was up 6.4% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.05%. American Electric Power’s payout ratio is presently 65.31%.

Wall Street Analyst Weigh In

Several brokerages have commented on AEP. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their price target for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. Barclays boosted their price target on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Scotiabank boosted their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 1st. Morgan Stanley cut their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Cfra reissued a “buy” rating and set a $92.00 price target (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. One research 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.62.

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.