Paloma Partners Management Co Has $293,000 Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Paloma Partners Management Co cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 52.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,858 shares of the company’s stock after selling 3,110 shares during the quarter. Paloma Partners Management Co’s holdings in American Electric Power were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. MainStreet Investment Advisors LLC increased its holdings in shares of 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 buying an additional 4,971 shares in the last quarter. New England Asset Management Inc. acquired a new stake in American Electric Power in the 3rd quarter valued at about $3,404,000. Assenagon Asset Management S.A. raised its stake 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 worth $40,070,000 after acquiring an additional 419,870 shares during the last quarter. ING Groep NV lifted its position in shares of American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of 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. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets raised their price target on American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday. UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley cut their target price 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 assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.20.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $97.45 on Friday. The firm’s 50 day simple moving average is $98.39 and its 200 day simple moving average is $95.90. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a market capitalization of $51.86 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.80 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.82%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

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.