State Street Corp Has $2.76 Billion Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

State Street Corp boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,902,755 shares of the company's stock after purchasing an additional 1,114,954 shares during the period. State Street Corp owned 5.06% of American Electric Power worth $2,760,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its stake in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC raised its holdings in 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 valued at $385,079,000 after buying an additional 1,962,125 shares in the last quarter. FMR LLC lifted its position in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock worth $704,549,000 after buying an additional 1,087,163 shares during the last quarter. Raymond James & Associates boosted its stake in shares of American Electric Power by 51.1% during the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company's stock worth $161,877,000 after acquiring an additional 623,789 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of American Electric Power by 1,140.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company's stock valued at $40,070,000 after acquiring an additional 419,870 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

American Electric Power stock traded down $1.60 during trading hours on Friday, hitting $95.85. The stock had a trading volume of 2,676,413 shares, compared to its average volume of 3,114,873. The company has a 50-day moving average of $98.39 and a two-hundred day moving average of $95.90. 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 Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a market cap of $51.00 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This is a boost from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is 74.55%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on American Electric Power from $104.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley reduced their price objective 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. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $98.20.

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.