Intech Investment Management LLC Sells 13,842 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Intech Investment Management LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,811 shares of the company's stock after selling 13,842 shares during the period. Intech Investment Management LLC's holdings in American Electric Power were worth $3,118,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in American Electric Power during the fourth quarter valued at approximately $220,983,000. Janus Henderson Group PLC increased its position in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. State Street Corp raised its stake in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company's stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC lifted its holdings in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after buying an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of American Electric Power during the 3rd quarter valued at about $80,207,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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American Electric Power Price Performance

Shares of AEP stock traded down $0.93 during mid-day trading on Monday, reaching $104.18. The company's stock had a trading volume of 2,616,542 shares, compared to its average volume of 2,762,198. The firm's 50-day moving average is $101.89 and its two-hundred day moving average is $99.04. The company has a market cap of $55.60 billion, a P/E ratio of 18.60, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is 66.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AEP shares. Barclays reduced their target price on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Bank of America lifted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.92.

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.