APG Asset Management N.V. Sells 574,224 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

APG Asset Management N.V. trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 54.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,011 shares of the company’s stock after selling 574,224 shares during the period. APG Asset Management N.V. owned approximately 0.09% of American Electric Power worth $40,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in shares of American Electric Power in the 4th quarter valued at approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in American Electric Power by 542.4% during 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 in the last quarter. Nordea Investment Management AB raised its holdings in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of American Electric Power by 67.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after buying an additional 1,043,885 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEP. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Scotiabank increased their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America lifted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley increased their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.43.

American Electric Power Price Performance

NASDAQ:AEP opened at $101.84 on Friday. The stock has a market capitalization of $54.19 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock’s 50-day moving average price is $99.71 and its 200-day moving average price is $91.57.

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

American Electric Power Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.46%. American Electric Power’s dividend 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.