iA Global Asset Management Inc. Purchases 2,341 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

iA Global Asset Management Inc. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,782 shares of the company’s stock after purchasing an additional 2,341 shares during the quarter. iA Global Asset Management Inc.’s holdings in American Electric Power were worth $4,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. purchased a new position in American Electric Power during the 4th quarter valued at approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp grew its position 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 during the last quarter. Nordea Investment Management AB increased its position in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. National Bank of Canada FI grew 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 acquiring an additional 1,182,451 shares during the last quarter. 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.

Analysts Set New Price Targets

Several research firms have commented on AEP. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. BMO Capital Markets increased their price target on shares of American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. 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 report on Thursday. Royal Bank of Canada boosted their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.77.

American Electric Power Trading Up 0.5 %

Shares of AEP opened at $100.28 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $52.86 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.92 and a beta of 0.53. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41. The stock’s 50-day moving average price is $94.38 and its 200 day moving average price is $88.81.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business 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%. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Insider Activity

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was 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 directly owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is owned by company insiders.

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.