American Electric Power Company Inc (NYSE:AEP) Shares Sold by Gemmer Asset Management LLC

Gemmer Asset Management LLC decreased its position in shares of American Electric Power Company Inc (NYSE:AEP) by 32.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 508 shares of the utilities provider’s stock after selling 243 shares during the period. Gemmer Asset Management LLC’s holdings in American Electric Power were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in American Electric Power during the 3rd quarter worth about $288,000. Foster Victor Wealth Advisors LLC increased its holdings in American Electric Power by 82.6% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 17,497 shares of the utilities provider’s stock worth $1,640,000 after purchasing an additional 7,917 shares during the period. Welch & Forbes LLC increased its holdings in American Electric Power by 9.7% during the 3rd quarter. Welch & Forbes LLC now owns 3,658 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 324 shares during the period. Gyroscope Capital Management Group LLC increased its holdings in American Electric Power by 16.7% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 5,226 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 747 shares during the period. Finally, Juncture Wealth Strategies LLC increased its holdings in American Electric Power by 5.6% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 5,700 shares of the utilities provider’s stock worth $534,000 after purchasing an additional 300 shares during the period. 73.76% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Brian X. Tierney sold 4,458 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now owns 39,745 shares in the company, valued at approximately $3,566,318.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total value of $110,631.68. Following the completion of the transaction, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Several brokerages have weighed in on AEP. Mizuho upped their price target on American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Thursday, July 11th. Bank of America restated a “buy” rating and set a $98.00 price target (up previously from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Morgan Stanley upped their price target on American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, ValuEngine downgraded American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Electric Power has an average rating of “Buy” and an average target price of $92.45.

AEP opened at $92.34 on Friday. American Electric Power Company Inc has a one year low of $70.31 and a one year high of $94.89. The company has a market cap of $45.86 billion, a P/E ratio of 23.38, a PEG ratio of 3.97 and a beta of 0.09. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The business’s 50-day simple moving average is $92.24 and its 200-day simple moving average is $88.63.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, analysts predict that American Electric Power Company Inc will post 4.13 earnings per share 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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