Gulf International Bank UK Ltd Has $3.77 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Gulf International Bank UK Ltd cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 42,921 shares of the company’s stock after selling 4,591 shares during the quarter. Gulf International Bank UK Ltd’s holdings in American Electric Power were worth $3,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Thomasville National Bank increased its holdings in shares of American Electric Power by 7.7% during the second quarter. Thomasville National Bank now owns 3,828 shares of the company’s stock worth $336,000 after buying an additional 274 shares in the last quarter. NovaPoint Capital LLC grew its stake in shares of American Electric Power by 10.2% in the second quarter. NovaPoint Capital LLC now owns 7,991 shares of the company’s stock worth $701,000 after purchasing an additional 741 shares during the last quarter. CWM LLC grew its stake in shares of American Electric Power by 2.0% in the second quarter. CWM LLC now owns 25,708 shares of the company’s stock worth $2,256,000 after purchasing an additional 502 shares during the last quarter. Naples Money Management LLC bought a new stake in shares of American Electric Power in the second quarter worth $44,000. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of American Electric Power by 24.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,507 shares of the company’s stock worth $395,000 after purchasing an additional 895 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 1.3 %

Shares of AEP stock traded up $1.28 on Wednesday, reaching $99.57. 4,489,963 shares of the company were exchanged, compared to its average volume of 3,304,372. The company has a market cap of $52.49 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.92 and a beta of 0.53. The company has a 50-day moving average of $91.10 and a 200-day moving average of $86.46. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.37. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $104.41.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share 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 issued a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.54%. American Electric Power’s dividend payout ratio is presently 65.31%.

Insider Buying and Selling

In related news, insider Therace Risch 5,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Therace Risch 5,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on AEP shares. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Morgan Stanley cut their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets upped their price target on shares of American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $93.38.

American Electric Power Company 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.