This Metric Says You Are Smart to Buy American Electric Power Company, Inc. (AEP)

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American Electric Power Company, Inc. (NYSE:AEP)

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Now that that’s out of the way, we’re going to examine the recent info for American Electric Power Company, Inc. (NYSE:AEP).

What have hedge funds been doing with American Electric Power Company, Inc. (NYSE:AEP)?

At the end of the second quarter, a total of 29 of the hedge funds we track were long in this stock, a change of 38% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings significantly.

When using filings from the hedgies we track, Israel Englander’s Millennium Management had the biggest position in American Electric Power Company, Inc. (NYSE:AEP), worth close to $79.2 million, comprising 0.2% of its total 13F portfolio. On Millennium Management’s heels is AQR Capital Management, managed by Cliff Asness, which held a $74.3 million position; 0.3% of its 13F portfolio is allocated to the stock. Other hedge funds that hold long positions include David Harding’s Winton Capital Management, John A. Levin’s Levin Capital Strategies and Jim Simons’s Renaissance Technologies.

With a general bullishness amongst the titans, particular hedge funds have been driving this bullishness. Millennium Management, managed by Israel Englander, established the most valuable position in American Electric Power Company, Inc. (NYSE:AEP). Millennium Management had 79.2 million invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also initiated a $74.3 million position during the quarter. The following funds were also among the new AEP investors: David Harding’s Winton Capital Management, John A. Levin’s Levin Capital Strategies, and Jim Simons’s Renaissance Technologies.

Insider trading activity in American Electric Power Company, Inc. (NYSE:AEP)

Insider buying made by high-level executives is best served when the company we’re looking at has seen transactions within the past 180 days. Over the latest 180-day time frame, American Electric Power Company, Inc. (NYSE:AEP) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to American Electric Power Company, Inc. (NYSE:AEP). These stocks are Korea Electric Power Corporation (ADR) (NYSE:KEP), FirstEnergy Corp. (NYSE:FE), Consolidated Edison, Inc. (NYSE:ED), PPL Corporation (NYSE:PPL), and PG&E Corporation (NYSE:PCG). This group of stocks are the members of the electric utilities industry and their market caps resemble AEP’s market cap.

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