American Electric Power Company Inc (AEP) Shares Sold by MARSHALL WACE ASIA Ltd

MARSHALL WACE ASIA Ltd trimmed its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,664 shares of the utilities provider’s stock after selling 454 shares during the quarter. MARSHALL WACE ASIA Ltd’s holdings in American Electric Power were worth $5,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. HM Payson & Co. bought a new position in American Electric Power during the 3rd quarter valued at $422,000. Belpointe Asset Management LLC bought a new position in American Electric Power during the 3rd quarter valued at $162,000. Vanguard Group Inc. boosted its stake in American Electric Power by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after acquiring an additional 584,608 shares during the last quarter. Morgan Stanley boosted its stake in American Electric Power by 24.0% during the 3rd quarter. Morgan Stanley now owns 3,695,743 shares of the utilities provider’s stock valued at $261,954,000 after acquiring an additional 714,473 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in American Electric Power by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 3,997,131 shares of the utilities provider’s stock valued at $283,265,000 after acquiring an additional 81,377 shares during the last quarter. Hedge funds and other institutional investors own 72.72% of the company’s stock.

Shares of AEP traded up $0.34 during midday trading on Thursday, hitting $78.76. The stock had a trading volume of 3,118,910 shares, compared to its average volume of 2,991,304. American Electric Power Company Inc has a fifty-two week low of $62.71 and a fifty-two week high of $79.31. The stock has a market cap of $38.67 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 3.56 and a beta of 0.01. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, October 25th. The utilities provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.21 by $0.05. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the company posted $1.10 earnings per share. Analysts anticipate that American Electric Power Company Inc will post 3.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, November 8th. American Electric Power’s dividend payout ratio is 72.83%.

A number of brokerages have weighed in on AEP. Zacks Investment Research cut shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Monday, November 19th. Barclays increased their target price on shares of American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 19th. ValuEngine raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Morgan Stanley increased their target price on shares of American Electric Power from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Finally, Bank of America increased their target price on shares of American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.56.

In other news, insider Lisa M. Barton sold 881 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the sale, the insider now directly owns 581 shares of the company’s stock, valued at $45,056.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Chodak III sold 847 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total transaction of $64,770.09. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

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

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