Sei Investments Co. Acquires 35,491 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sei Investments Co. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 366,927 shares of the company’s stock after purchasing an additional 35,491 shares during the quarter. Sei Investments Co.’s holdings in American Electric Power were worth $32,195,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HHM Wealth Advisors LLC raised its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. Bank of Stockton lifted its stake in American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after buying an additional 111 shares during the period. Richardson Financial Services Inc. boosted its holdings in American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after buying an additional 115 shares during the last quarter. Finally, Addison Advisors LLC grew its position in shares of American Electric Power by 14.8% during the 2nd quarter. Addison Advisors LLC now owns 902 shares of the company’s stock worth $79,000 after buying an additional 116 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

NASDAQ AEP opened at $102.53 on Tuesday. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $105.18. The firm’s 50 day moving average is $98.82 and its 200-day moving average is $91.06. The company has a market capitalization of $54.05 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets boosted their price target on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on American Electric Power in a research note on Friday. They issued a “hold” rating and a $107.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.00.

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.