Quantitative Systematic Strategies LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 43.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,939 shares of the company’s stock after selling 23,333 shares during the quarter. American Electric Power comprises approximately 0.5% of Quantitative Systematic Strategies LLC’s investment portfolio, making the stock its 11th biggest holding. Quantitative Systematic Strategies LLC’s holdings in American Electric Power were worth $2,617,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Paragon Wealth Strategies LLC purchased a new stake in shares of American Electric Power during the second quarter valued at $35,000. Cowen Prime Advisors LLC purchased a new stake in shares of American Electric Power during the second quarter valued at $38,000. Tsfg LLC grew its holdings in shares of American Electric Power by 43.5% during the second quarter. Tsfg LLC now owns 465 shares of the company’s stock valued at $39,000 after buying an additional 141 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of American Electric Power by 62.4% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 794 shares of the company’s stock valued at $41,000 after buying an additional 305 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of American Electric Power by 50.8% during the first quarter. Truvestments Capital LLC now owns 490 shares of the company’s stock valued at $42,000 after buying an additional 165 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of AEP traded down $0.60 during mid-day trading on Monday, hitting $83.50. 138,745 shares of the company were exchanged, compared to its average volume of 2,867,502. American Electric Power Company, Inc. has a 1-year low of $74.80 and a 1-year high of $94.21. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.44. The company has a 50 day moving average of $88.51 and a 200-day moving average of $86.42. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.30 and a beta of 0.27.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were paid a $0.74 dividend. The ex-dividend date was Monday, August 9th. This represents a $2.96 annualized dividend and a dividend yield of 3.54%. American Electric Power’s dividend payout ratio (DPR) is 66.67%.
In other news, CEO Nicholas K. Akins sold 2,100 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $89.76, for a total value of $188,496.00. Following the completion of the sale, the chief executive officer now owns 98,672 shares of the company’s stock, valued at approximately $8,856,798.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.
A number of brokerages have weighed in on AEP. Morgan Stanley decreased their price objective on shares of American Electric Power from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday. Barclays upped their price objective on shares of American Electric Power from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 25th. Bank of America upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price objective for the company in a research report on Monday, July 26th. Finally, Wells Fargo & Company decreased their price objective on shares of American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $94.99.
American Electric Power Profile
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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