OneAscent Financial Services LLC Sells 207 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

OneAscent Financial Services LLC decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% during the first quarter, Holdings Channel reports. The fund owned 5,611 shares of the company’s stock after selling 207 shares during the period. OneAscent Financial Services LLC’s holdings in American Electric Power were worth $483,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AEP. FMR LLC raised its stake in shares of American Electric Power by 24.8% in the third quarter. FMR LLC now owns 639,933 shares of the company’s stock worth $48,136,000 after buying an additional 127,047 shares during the period. Dark Forest Capital Management LP raised its stake in shares of American Electric Power by 30.7% in the third quarter. Dark Forest Capital Management LP now owns 4,752 shares of the company’s stock worth $357,000 after buying an additional 1,117 shares during the period. Algert Global LLC bought a new position in shares of American Electric Power in the third quarter worth about $240,000. Mutual Advisors LLC raised its stake in shares of American Electric Power by 12.7% in the third quarter. Mutual Advisors LLC now owns 8,720 shares of the company’s stock worth $656,000 after buying an additional 982 shares during the period. Finally, Vinva Investment Management Ltd raised its stake in American Electric Power by 4.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 3,448 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.6 %

NASDAQ:AEP traded down $0.56 during mid-day trading on Friday, hitting $87.74. 3,685,946 shares of the company’s stock traded hands, compared to its average volume of 2,534,441. The company has a fifty day moving average of $88.79 and a 200 day moving average of $84.13. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $93.44. The company has a market capitalization of $46.25 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.62 and a beta of 0.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the company posted $1.11 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on AEP. BMO Capital Markets lifted their target price on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Royal Bank of Canada lifted their price objective on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company lifted their price objective on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Barclays lifted their price objective on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley reduced their price objective on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $88.62.

Insider Activity at American Electric Power

In other news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.