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Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Defense World ·  {{timeTz}}

Northwestern Mutual Wealth Management Co. reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,282 shares of the company's stock after selling 1,875 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in American Electric Power were worth $4,318,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Aldebaran Financial Inc. increased its stake in American Electric Power by 4.2% in the 1st quarter. Aldebaran Financial Inc. now owns 2,500 shares of the company's stock valued at $249,000 after buying an additional 100 shares during the period. Great Valley Advisor Group Inc. increased its stake in American Electric Power by 2.5% in the 1st quarter. Great Valley Advisor Group Inc. now owns 4,157 shares of the company's stock valued at $406,000 after buying an additional 100 shares during the period. Bridgewater Advisors Inc. increased its stake in American Electric Power by 2.2% in the 1st quarter. Bridgewater Advisors Inc. now owns 4,664 shares of the company's stock valued at $465,000 after buying an additional 101 shares during the period. Bogart Wealth LLC increased its stake in American Electric Power by 6.3% in the 1st quarter. Bogart Wealth LLC now owns 1,723 shares of the company's stock valued at $172,000 after buying an additional 102 shares during the period. Finally, Gryphon Financial Partners LLC increased its stake in American Electric Power by 1.8% in the 1st quarter. Gryphon Financial Partners LLC now owns 5,875 shares of the company's stock valued at $586,000 after buying an additional 105 shares during the period. 73.26% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, EVP Therace Risch sold 5,330 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $102.35, for a total value of $545,525.50. Following the sale, the executive vice president now directly owns 8,248 shares in the company, valued at approximately $844,182.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Therace Risch sold 5,330 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $102.35, for a total value of $545,525.50. Following the completion of the transaction, the executive vice president now owns 8,248 shares of the company's stock, valued at approximately $844,182.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles E. Zebula sold 1,902 shares of the business's stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $99.05, for a total transaction of $188,393.10. Following the completion of the transaction, the executive vice president now directly owns 18,134 shares of the company's stock, valued at approximately $1,796,172.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AEP. Morgan Stanley dropped their price objective on shares of American Electric Power from $113.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday, June 23rd. Citigroup boosted their target price on shares of American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Finally, Credit Suisse Group boosted their target price on shares of American Electric Power from $103.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power has an average rating of "Moderate Buy" and an average price target of $102.67.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $103.78 on Monday. The firm has a market capitalization of $53.32 billion, a P/E ratio of 20.39, a PEG ratio of 3.35 and a beta of 0.35. American Electric Power Company, Inc. has a one year low of $80.22 and a one year high of $104.81. The company's fifty day moving average is $95.80 and its two-hundred day moving average is $96.40. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.66 and a current ratio of 0.75.

American Electric Power (NASDAQ:AEP – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. American Electric Power had a net margin of 14.39% and a return on equity of 10.46%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the firm earned $1.18 EPS. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts forecast that American Electric Power Company, Inc. will post 5 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be given a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 3.01%. American Electric Power's dividend payout ratio is presently 61.30%.

American Electric Power Company Profile

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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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