ING Groep NV Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

ING Groep NV increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,444 shares of the company’s stock after buying an additional 3,919 shares during the period. ING Groep NV’s holdings in American Electric Power were worth $3,172,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in American Electric Power by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,851,838 shares of the company’s stock worth $320,742,000 after acquiring an additional 252,550 shares in the last quarter. Swiss National Bank boosted its stake in shares of American Electric Power by 1.8% during the first quarter. Swiss National Bank now owns 2,297,842 shares of the company’s stock valued at $194,627,000 after purchasing an additional 39,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in American Electric Power by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,199,386 shares of the company’s stock valued at $183,143,000 after buying an additional 26,864 shares during the period. Maple Brown Abbott Ltd raised its stake in American Electric Power by 24.2% in the first quarter. Maple Brown Abbott Ltd now owns 1,991,290 shares of the company’s stock worth $168,822,000 after buying an additional 387,810 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in American Electric Power by 7.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,819,066 shares of the company’s stock worth $151,474,000 after buying an additional 122,076 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $84.90, for a total transaction of $178,290.00. Following the completion of the transaction, the chief executive officer now directly owns 136,264 shares of the company’s stock, valued at approximately $11,568,813.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas K. Akins sold 15,068 shares of American Electric Power stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $88.39, for a total transaction of $1,331,860.52. Following the sale, the chief executive officer now owns 106,588 shares of the company’s stock, valued at $9,421,313.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,293 shares of company stock worth $3,592,418. Company insiders own 0.14% of the company’s stock.

Shares of American Electric Power stock opened at $84.45 on Thursday. The firm has a 50 day moving average of $86.71. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 3.11 and a beta of 0.26. The company has a quick ratio of 0.29, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 52 week low of $74.80 and a 52 week high of $94.21.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, April 21st. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). American Electric Power had a net margin of 14.72% and a return on equity of 10.93%. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, analysts anticipate that American Electric Power Company, Inc. will post 4.68 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $2.96 dividend on an annualized basis and a yield of 3.51%. American Electric Power’s dividend payout ratio is currently 66.67%.

Several research firms have recently commented on AEP. Morgan Stanley reduced their price target on American Electric Power from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Tuesday, May 18th. Barclays increased their price target on shares of American Electric Power from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Edward Jones started coverage on shares of American Electric Power in a research report on Wednesday, March 10th. They issued a “buy” rating on the stock. Finally, Mizuho increased their target price on shares of American Electric Power from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, April 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and an average target price of $94.75.

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.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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