Insigneo Advisory Services LLC Sells 532 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Insigneo Advisory Services LLC lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,592 shares of the company’s stock after selling 532 shares during the quarter. Insigneo Advisory Services LLC’s holdings in American Electric Power were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after buying an additional 35,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake 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 worth $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of American Electric Power in the 4th quarter worth $175,667,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AEP shares. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley raised their target price on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. BMO Capital Markets raised their target price on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Guggenheim raised their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Barclays raised their target price on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $96.43.

American Electric Power Trading Up 1.1 %

NASDAQ:AEP opened at $101.84 on Friday. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market cap of $54.19 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.93 and a beta of 0.54. The firm has a 50-day simple moving average of $99.71 and a 200-day simple moving average of $91.57.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is currently 65.31%.

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.