31,106 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new position 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 31,106 shares of the company's stock, valued at approximately $3,191,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock worth $25,000 after buying an additional 103 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company's stock worth $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC raised its holdings in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company's stock worth $300,000 after acquiring an additional 106 shares in the last quarter. Garrison Asset Management LLC boosted its position in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock valued at $1,950,000 after acquiring an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY grew its holdings in shares of American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock valued at $516,000 after purchasing an additional 110 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Down 0.6 %

Shares of NASDAQ AEP traded down $0.60 during mid-day trading on Thursday, reaching $93.03. The company had a trading volume of 974,740 shares, compared to its average volume of 3,098,635. The stock has a market cap of $49.50 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The business's 50-day moving average is $97.82 and its 200-day moving average is $96.05. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date was Friday, November 8th. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.00%. American Electric Power's dividend payout ratio (DPR) is 74.55%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AEP. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 target price on the stock. Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. BMO Capital Markets upped their price objective on American Electric Power from $104.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company dropped their target price on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $97.13.

American Electric Power 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.