Executive Wealth Management LLC Invests $1.79 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Executive Wealth Management LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,424 shares of the company's stock, valued at approximately $1,788,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MainStreet Investment Advisors LLC boosted its stake in American Electric Power by 13.2% during the second quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company's stock worth $3,730,000 after acquiring an additional 4,971 shares in the last quarter. New England Asset Management Inc. purchased a new position in shares of American Electric Power in the third quarter worth about $3,404,000. Assenagon Asset Management S.A. boosted its position in shares of American Electric Power by 1,140.5% in the second 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 period. ING Groep NV boosted its position in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company's stock valued at $30,217,000 after acquiring an additional 208,974 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in American Electric Power by 29.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 197,195 shares of the company's stock valued at $17,302,000 after purchasing an additional 45,167 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AEP shares. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Evercore ISI lowered 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. Wells Fargo & Company cut their price target on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and an average price target of $98.20.

American Electric Power Trading Down 0.5 %

Shares of AEP traded down $0.48 during trading hours on Tuesday, reaching $95.10. The stock had a trading volume of 2,045,338 shares, compared to its average volume of 3,108,435. 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 52 week low of $75.22 and a 52 week high of $105.18. The firm has a 50-day moving average of $98.13 and a 200 day moving average of $96.03. The company has a market cap of $50.60 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.77 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 paid a $0.93 dividend. This is an increase from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is 74.55%.

American Electric Power Company 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.