Assetmark Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,512 shares of the company's stock after selling 7,081 shares during the period. Assetmark Inc.'s holdings in American Electric Power were worth $3,746,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the company. Verus Financial Partners Inc. acquired a new stake in American Electric Power during the third quarter valued at $211,000. Carson Advisory Inc. acquired a new stake in American Electric Power during the third quarter valued at $200,000. Executive Wealth Management LLC acquired a new stake in shares of American Electric Power in the third quarter worth about $1,788,000. CWA Asset Management Group LLC acquired a new stake in shares of American Electric Power in the third quarter worth about $1,208,000. Finally, Equitable Trust Co. lifted its position in shares of American Electric Power by 15.2% in the third quarter. Equitable Trust Co. now owns 15,555 shares of the company's stock worth $1,596,000 after buying an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on AEP shares. UBS Group boosted their price target on American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. Evercore ISI reduced their price target on 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. BMO Capital Markets reduced their price target on American Electric Power from $111.00 to $104.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Barclays lifted their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $98.27.
Check Out Our Latest Report on American Electric Power
American Electric Power Stock Performance
AEP traded up $0.37 on Wednesday, hitting $93.33. 2,561,473 shares of the stock traded hands, compared to its average volume of 3,154,297. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $49.66 billion, a PE ratio of 18.60, a P/E/G ratio of 2.65 and a beta of 0.55. The business has a fifty day moving average price of $100.23 and a two-hundred day moving average price of $95.10.
American Electric Power Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Friday, November 8th. American Electric Power's dividend payout ratio is currently 74.55%.
American Electric Power Profile
(
Free Report)
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.
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