UMB Bank n.a. Has $3.55 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

UMB Bank n.a. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,509 shares of the company’s stock after acquiring an additional 406 shares during the quarter. UMB Bank n.a.’s holdings in American Electric Power were worth $3,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AEP. Nomura Holdings Inc. acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp raised its position in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB raised its position in American Electric Power by 381.9% in the 1st 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 last quarter. National Bank of Canada FI raised its position in American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after purchasing an additional 1,043,885 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AEP shares. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim boosted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Barclays upped their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $94.77.

American Electric Power Stock Up 0.5 %

Shares of American Electric Power stock traded up $0.53 during trading hours on Friday, reaching $100.28. 2,891,989 shares of the company’s stock were exchanged, compared to its average volume of 3,242,424. The company has a 50 day moving average of $94.11 and a two-hundred day moving average of $88.65. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $104.41. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. The stock has a market cap of $52.86 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business posted $1.13 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.51%. American Electric Power’s payout ratio is 65.31%.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.