Parsons Capital Management Inc. RI Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Parsons Capital Management Inc. RI raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 55.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,864 shares of the company's stock after purchasing an additional 2,800 shares during the quarter. Parsons Capital Management Inc. RI's holdings in American Electric Power were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AEP. State Street Corp grew its stake in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC boosted its holdings in American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company's stock valued at $1,280,655,000 after acquiring an additional 352,588 shares during the period. FMR LLC grew its position in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company's stock worth $466,191,000 after purchasing an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of AEP traded down $2.63 on Tuesday, reaching $100.00. The stock had a trading volume of 3,524,149 shares, compared to its average volume of 3,463,132. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a market capitalization of $53.21 billion, a PE ratio of 20.04, a PEG ratio of 2.77 and a beta of 0.56. The firm has a 50-day moving average of $94.99 and a 200 day moving average of $97.41. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Monday, February 10th. American Electric Power's dividend payout ratio is currently 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $98.00.

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.