A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $284.7K by Mark C. McCullough, Executive Vice President at American Electric Power Company, Inc. (Symbol: AEP).
Mark C. McCullough
Executive Vice President
McCullough's average cost works out to $64.33/share. In trading on Tuesday, bargain hunters could buy shares of American Electric Power Company, Inc. (Symbol: AEP) and achieve a cost basis lower than McCullough, with shares changing hands as low as $64.03 per share. Shares of American Electric Power Company, Inc. were changing hands at $64.60 at last check, trading up about 0.4% on Tuesday. The chart below shows the one year performance of AEP shares, versus its 200 day moving average:
Looking at the chart above, AEP's low point in its 52 week range is $52.29 per share, with $67.19 as the 52 week high point - that compares with a last trade of $64.60.
The current annualized dividend paid by American Electric Power Company, Inc. is $2.24/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/06/2016. Below is a long-term dividend history chart for AEP, which can be of good help in judging whether the most recent dividend with approx. 3.5% annualized yield is likely to continue.
AEP makes up 7.07% of the iShares Edge MSCI Multifactor Utilities ETF (Symbol: UTLF)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.