Victory Capital Management Inc. Sells 237,039 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Victory Capital Management Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 23.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 782,593 shares of the company’s stock after selling 237,039 shares during the period. Victory Capital Management Inc.’s holdings in American Electric Power were worth $63,562,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new stake in American Electric Power during the fourth quarter worth about $32,000. GoalVest Advisory LLC boosted its position in shares of American Electric Power by 304.8% in the 4th quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of American Electric Power in the 3rd quarter worth approximately $36,000. JNBA Financial Advisors grew its stake in shares of American Electric Power by 91.6% in the 3rd quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after buying an additional 229 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in American Electric Power during the 3rd quarter valued at approximately $38,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AEP shares. LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $75.50 to $73.00 in a report on Friday, March 8th. Royal Bank of Canada lifted their target price on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company increased their price target on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday. Cfra restated a “buy” rating and issued a $92.00 price objective (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Finally, Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $88.14.

American Electric Power Stock Performance

AEP stock opened at $88.60 on Friday. The company has a market cap of $46.70 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.73 and a beta of 0.50. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.36. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $92.88. The stock’s fifty day moving average price is $84.10 and its 200-day moving average price is $80.86.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.97%. American Electric Power’s dividend payout ratio is currently 65.31%.

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.