iA Global Asset Management Inc. boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 40.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,835 shares of the company's stock after buying an additional 21,053 shares during the quarter. iA Global Asset Management Inc.'s holdings in American Electric Power were worth $7,473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. EP Wealth Advisors LLC lifted its position in shares of American Electric Power by 12.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 11,057 shares of the company's stock valued at $1,134,000 after acquiring an additional 1,231 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of American Electric Power during the third quarter valued at about $1,021,000. Worldquant Millennium Advisors LLC boosted its position in shares of American Electric Power by 191.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 89,690 shares of the company's stock worth $9,202,000 after purchasing an additional 58,916 shares in the last quarter. State Street Corp increased its position in American Electric Power by 4.3% in the 3rd 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 in the last quarter. Finally, Stifel Financial Corp raised its stake in American Electric Power by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 898,732 shares of the company's stock worth $92,213,000 after buying an additional 18,135 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Stock Performance
Shares of American Electric Power stock traded down $1.60 during trading hours on Friday, hitting $95.85. 2,676,413 shares of the company's stock traded hands, compared to its average volume of 2,590,180. The company has a fifty day simple moving average of $98.27 and a 200-day simple moving average of $95.95. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a market capitalization of $51.00 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.
American Electric Power Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.88%. American Electric Power's payout ratio is currently 74.55%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on AEP shares. Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a "hold" rating and a $107.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Scotiabank upped 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 report on Tuesday, August 20th. Finally, Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating on the stock in a research report 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 stock. According to data from MarketBeat, American Electric Power currently has an average rating of "Hold" and a consensus price target of $98.20.
View Our Latest Analysis on AEP
About American Electric Power
(
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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