HMV Wealth Advisors LLC Has $636,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

HMV Wealth Advisors LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 37.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,820 shares of the company’s stock after selling 3,505 shares during the quarter. HMV Wealth Advisors LLC’s holdings in American Electric Power were worth $636,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AEP. Raymond James Financial Inc. acquired a new position in shares of American Electric Power during the fourth quarter worth approximately $220,983,000. Lazard Asset Management LLC raised its position in shares of American Electric Power by 51.0% during the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock worth $591,791,000 after purchasing an additional 2,165,888 shares during the period. GAMMA Investing LLC raised its position in shares of American Electric Power by 13,499.5% during the first quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company’s stock worth $234,954,000 after purchasing an additional 2,134,404 shares during the period. Cohen & Steers Inc. acquired a new position in shares of American Electric Power during the fourth quarter worth approximately $121,605,000. Finally, Bank of America Corp DE raised its position in shares of American Electric Power by 27.5% during the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company’s stock worth $472,270,000 after purchasing an additional 1,105,317 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AEP shares. Raymond James initiated coverage on American Electric Power in a research report on Friday. They set an “outperform” rating and a $115.00 target price on the stock. UBS Group upped their price target on American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, June 6th. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Finally, Barclays upped their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $108.31.

American Electric Power Stock Down 0.1%

Shares of NASDAQ:AEP opened at $102.90 on Friday. The company has a market capitalization of $54.97 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The business has a fifty day moving average price of $104.17 and a two-hundred day moving average price of $101.12. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.62%. American Electric Power’s dividend payout ratio is presently 71.68%.

Insider Activity

In related news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $101.49, for a total transaction of $817,806.42. Following the sale, the executive vice president now owns 18,332 shares of the company’s stock, valued at approximately $1,860,514.68. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president now directly owns 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,256 shares of company stock valued at $2,688,472 in the last 90 days. Insiders own 0.07% of the company’s stock.

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.