OLD National Bancorp IN Acquires 15,138 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

OLD National Bancorp IN boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,489 shares of the company’s stock after buying an additional 15,138 shares during the period. OLD National Bancorp IN’s holdings in American Electric Power were worth $10,572,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in shares of American Electric Power during the fourth quarter worth about $26,000. Denali Advisors LLC acquired a new position in American Electric Power during the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new position in shares of American Electric Power during the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of American Electric Power in the fourth quarter worth $32,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 $580,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other American Electric Power news, 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 sale, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Electric Power Stock Performance

American Electric Power stock traded down $0.51 during trading hours on Friday, hitting $97.53. The company had a trading volume of 3,029,548 shares, compared to its average volume of 3,301,096. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $104.41. The firm has a market cap of $51.41 billion, a PE ratio of 18.09, a PEG ratio of 2.92 and a beta of 0.53. The firm has a 50-day moving average of $91.44 and a 200 day moving average of $86.68. 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 (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.61%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Scotiabank upped their target price on American Electric Power from $90.00 to $99.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Bank of America cut American Electric Power from a “neutral” rating to an “underperform” rating and increased their price target for the company from $96.00 to $97.00 in a research report on Tuesday. Finally, BMO Capital Markets increased their price target on 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $93.38.

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.