NorthCrest Asset Manangement LLC Purchases 663 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

NorthCrest Asset Manangement LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,260 shares of the company’s stock after buying an additional 663 shares during the period. NorthCrest Asset Manangement LLC’s holdings in American Electric Power were worth $1,953,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. increased its position in shares of American Electric Power by 3.9% during the 1st quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of American Electric Power by 7.8% during the first quarter. Bogart Wealth LLC now owns 1,650 shares of the company’s stock valued at $142,000 after buying an additional 119 shares during the last quarter. Seelaus Asset Management LLC increased its holdings in shares of American Electric Power by 1.9% in the first quarter. Seelaus Asset Management LLC now owns 6,775 shares of the company’s stock worth $583,000 after buying an additional 125 shares during the period. Personal CFO Solutions LLC boosted its holdings in American Electric Power by 2.5% during the 4th quarter. Personal CFO Solutions LLC now owns 5,345 shares of the company’s stock valued at $434,000 after acquiring an additional 130 shares during the period. Finally, Greenleaf Trust increased its stake in American Electric Power by 1.5% in the 1st quarter. Greenleaf Trust now owns 8,638 shares of the company’s stock worth $744,000 after purchasing an additional 130 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

AEP traded up $0.04 during midday trading on Wednesday, hitting $98.17. 619,319 shares of the company traded hands, compared to its average volume of 3,279,365. The company’s 50-day moving average is $91.74 and its 200 day moving average is $87.09. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $104.41. The firm has a market capitalization of $51.75 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. On average, research analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.59%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report 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 report on Wednesday, May 1st. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Bank of America lowered shares of American Electric Power from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $96.00 to $97.00 in a research note on Tuesday, August 6th. Finally, Scotiabank increased their price target on shares of American Electric Power from $90.00 to $99.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.38.

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.