Arkadios Wealth Advisors Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Arkadios Wealth Advisors trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,808 shares of the company’s stock after selling 2,545 shares during the quarter. Arkadios Wealth Advisors’ holdings in American Electric Power were worth $2,440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AEP. Frazier Financial Advisors LLC purchased a new position in American Electric Power during the fourth quarter worth $26,000. Denali Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in American Electric Power in the 1st quarter worth about $27,000. YHB Investment Advisors Inc. bought a new stake in American Electric Power in the first quarter worth about $29,000. Finally, LRI Investments LLC boosted its position in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AEP. Royal Bank of Canada upped 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. Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. 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. Wells Fargo & Company increased their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $94.77.

American Electric Power Stock Up 1.2 %

Shares of AEP stock traded up $1.21 during trading hours on Thursday, reaching $99.75. 2,745,530 shares of the company’s stock were exchanged, compared to its average volume of 3,244,498. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $104.41. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. The stock has a market cap of $52.58 billion, a PE ratio of 18.37, a PEG ratio of 2.92 and a beta of 0.53. The stock’s fifty day moving average price is $93.88 and its two-hundred day moving average price is $88.57.

American Electric Power (NASDAQ:AEP) last released its 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. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The company also recently announced 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 of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.53%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

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.