Raymond James Trust N.A. Raises Position in American Electric Power Company, Inc. (NASDAQ:AEP)


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Raymond James Trust N.A. boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,208 shares of the company’s stock after buying an additional 667 shares during the period. Raymond James Trust N.A.’s holdings in American Electric Power were worth $3,015,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Man Group plc boosted its holdings in American Electric Power by 1,695.6% in the second quarter. Man Group plc now owns 47,547 shares of the company’s stock valued at $3,787,000 after acquiring an additional 44,899 shares during the last quarter. Sei Investments Co. boosted its holdings in American Electric Power by 29.3% in the second quarter. Sei Investments Co. now owns 164,649 shares of the company’s stock valued at $13,125,000 after acquiring an additional 37,268 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of American Electric Power by 106.4% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,287 shares of the company’s stock valued at $182,000 after purchasing an additional 1,179 shares in the last quarter. Rockbridge Investment Management LCC acquired a new position in shares of American Electric Power in the 2nd quarter valued at about $31,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of American Electric Power by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,326,176 shares of the company’s stock valued at $185,257,000 after purchasing an additional 68,843 shares in the last quarter. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Paul Chodak III sold 2,024 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $90.67, for a total value of $183,516.08. Following the sale, the executive vice president now directly owns 6,580 shares in the company, valued at approximately $596,608.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on AEP shares. Barclays lifted their price target on shares of American Electric Power from $93.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, November 18th. Mizuho started coverage on American Electric Power in a research note on Monday, December 14th. They set a “buy” rating and a $84.00 price objective on the stock. Royal Bank of Canada boosted their price objective on American Electric Power from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Monday, October 26th. Morgan Stanley reduced their price target on American Electric Power from $108.00 to $101.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 15th. Finally, KeyCorp boosted their target price on shares of American Electric Power from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $95.87.

AEP stock opened at $78.15 on Thursday. The firm has a market cap of $38.79 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.95 and a beta of 0.22. American Electric Power Company, Inc. has a 12-month low of $65.14 and a 12-month high of $104.97. The stock’s 50 day simple moving average is $81.81 and its 200 day simple moving average is $86.22. The company has a current ratio of 0.48, a quick ratio of 0.34 and a debt-to-equity ratio of 1.36.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, October 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.47 billion. American Electric Power had a net margin of 12.82% and a return on equity of 10.19%. On average, research analysts forecast that American Electric Power Company, Inc. will post 4.33 EPS for the current fiscal year.

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.

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

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