SeaCrest Wealth Management LLC Sells 2,439 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

SeaCrest Wealth Management LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,058 shares of the company’s stock after selling 2,439 shares during the period. SeaCrest Wealth Management LLC’s holdings in American Electric Power were worth $952,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AEP. Eagle Ridge Investment Management purchased a new position in American Electric Power in the first quarter worth $204,000. Capital Advisors Ltd. LLC grew its holdings in American Electric Power by 27.4% in the first quarter. Capital Advisors Ltd. LLC now owns 869 shares of the company’s stock worth $75,000 after purchasing an additional 187 shares during the last quarter. Claro Advisors LLC grew its holdings in American Electric Power by 1.5% in the first quarter. Claro Advisors LLC now owns 11,026 shares of the company’s stock worth $949,000 after purchasing an additional 163 shares during the last quarter. Kowal Investment Group LLC purchased a new position in American Electric Power in the first quarter worth $207,000. Finally, BKM Wealth Management LLC grew its holdings in American Electric Power by 35.0% in the first quarter. BKM Wealth Management LLC now owns 5,435 shares of the company’s stock worth $468,000 after purchasing an additional 1,410 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated 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 $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated 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 $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the company’s 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 approximately $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 Trading Up 0.4 %

Shares of American Electric Power stock opened at $87.62 on Wednesday. The firm has a 50-day simple moving average of $88.88 and a two-hundred day simple moving average of $84.23. The company has a market cap of $46.19 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. 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 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 issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analyst Ratings Changes

Several research firms have issued reports on AEP. UBS Group lowered 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 report on Monday, March 11th. Royal Bank of Canada boosted their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley dropped their price objective on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Barclays boosted their price objective on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets boosted their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $88.62.

American Electric Power 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.