ICA Group Wealth Management LLC Sells 4,069 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

ICA Group Wealth Management LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 92.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 339 shares of the company’s stock after selling 4,069 shares during the quarter. ICA Group Wealth Management LLC’s holdings in American Electric Power were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hodges Capital Management Inc. purchased a new position in shares of American Electric Power during the 1st quarter worth $1,615,000. Quantbot Technologies LP purchased a new position in American Electric Power during the first quarter valued at $1,731,000. Nordea Investment Management AB grew its holdings in American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC increased its position in American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after buying an additional 103,771 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.7 %

Shares of American Electric Power stock opened at $104.95 on Tuesday. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $97.74 and a 200-day moving average price of $90.54. The firm has a market cap of $55.32 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.95 and a beta of 0.54.

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

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.35%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analyst Ratings Changes

AEP has been the subject of a number of recent research reports. Barclays boosted their price objective on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Morgan Stanley increased their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $95.15.

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.