Nomura Asset Management Co. Ltd. Acquires 87,300 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Nomura Asset Management Co. Ltd. increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 48.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,364 shares of the company's stock after purchasing an additional 87,300 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.05% of American Electric Power worth $27,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in American Electric Power during the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the third quarter valued at approximately $33,000. LRI Investments LLC increased its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company's stock valued at $35,000 after buying an additional 365 shares during the period. Finally, Briaud Financial Planning Inc lifted its position in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock worth $38,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Performance

NASDAQ AEP traded down $1.47 during trading on Wednesday, hitting $93.63. The company's stock had a trading volume of 2,925,071 shares, compared to its average volume of 3,107,661. 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 quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a market cap of $49.82 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. The firm has a 50 day moving average price of $97.98 and a 200 day moving average price of $96.07.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.97%. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is currently 74.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEP. Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 26th. Scotiabank raised their price target on American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 20th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their target price on shares of American Electric Power from $104.00 to $108.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. Two research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $98.20.

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.