American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,070 shares of the company’s stock after selling 2,652 shares during the quarter. Kentucky Retirement Systems’ holdings in American Electric Power were worth $3,803,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its holdings in shares of American Electric Power by 60.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after purchasing an additional 18,726 shares during the period. OLD National Bancorp IN increased its position in shares of American Electric Power by 14.4% during the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after acquiring an additional 15,138 shares during the last quarter. MainStreet Investment Advisors LLC raised its stake in shares of American Electric Power by 13.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after acquiring an additional 4,971 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of American Electric Power by 1,140.5% in the 2nd 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. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of American Electric Power by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 263,368 shares of the company’s stock worth $22,697,000 after purchasing an additional 5,537 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of AEP stock opened at $96.31 on Friday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market cap of $51.25 billion, a P/E ratio of 19.30, a PEG ratio of 2.69 and a beta of 0.55. The firm has a fifty day moving average price of $99.74 and a 200 day moving average price of $95.21.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Evercore ISI lowered their target price 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. BMO Capital Markets dropped their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.27.

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.