MAI Capital Management Sells 5,373 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

MAI Capital Management trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 25.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,965 shares of the company's stock after selling 5,373 shares during the period. MAI Capital Management's holdings in American Electric Power were worth $1,638,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AEP. Pathway Financial Advisers LLC raised its holdings in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. Zimmer Partners LP raised its holdings in American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company's stock worth $83,948,000 after acquiring an additional 831,235 shares during the last quarter. Lazard Asset Management LLC raised its holdings in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company's stock worth $739,303,000 after acquiring an additional 776,965 shares during the last quarter. Raymond James & Associates raised its holdings in American Electric Power by 51.1% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in American Electric Power by 1,140.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company's stock worth $40,070,000 after acquiring an additional 419,870 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Scotiabank lifted their target price 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. 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 for the company in a research report on Thursday, November 7th. Finally, Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.27.

American Electric Power Price Performance

NASDAQ:AEP opened at $96.80 on Thursday. The stock has a market cap of $51.51 billion, a PE ratio of 19.40, a P/E/G ratio of 2.78 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business's 50-day simple moving average is $99.34 and its two-hundred day simple moving average is $95.39. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.84%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio is presently 74.55%.

American Electric Power Profile

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.