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

ICA Group Wealth Management LLC trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 92.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 339 shares of the company’s stock after selling 4,069 shares during the period. ICA Group Wealth Management LLC’s holdings in American Electric Power were worth $30,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AEP. Hodges Capital Management Inc. bought a new stake in American Electric Power during the 1st quarter valued at approximately $1,615,000. Quantbot Technologies LP bought a new stake in shares of American Electric Power during the first quarter valued at approximately $1,731,000. Nordea Investment Management AB grew its stake in American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC raised its holdings 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 purchasing an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after buying an additional 103,771 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.7 %

Shares of NASDAQ:AEP opened at $104.95 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $105.18. The company has a market cap of $55.32 billion, a P/E ratio of 19.47, a PEG ratio of 2.95 and a beta of 0.54. The stock’s fifty day moving average price is $97.74 and its 200-day moving average price is $90.54.

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

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued 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 dividend yield of 3.35%. American Electric Power’s payout ratio is 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. BMO Capital Markets lifted their target price on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Bank of America boosted their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.