Hartford Investment Management Co. Lowers Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Investment Management Co. decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 32,861 shares of the company’s stock after selling 507 shares during the quarter. Hartford Investment Management Co.’s holdings in American Electric Power were worth $3,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC boosted its holdings in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after buying an additional 3,288 shares in the last quarter. Secure Asset Management LLC boosted its holdings in American Electric Power by 22.4% during the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after buying an additional 4,370 shares in the last quarter. Grove Bank & Trust boosted its holdings in American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new stake in American Electric Power during the fourth quarter worth about $419,000. Finally, Principal Financial Group Inc. boosted its holdings in American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $102.35 on Thursday. The firm has a 50 day simple moving average of $95.26 and a 200-day simple moving average of $97.86. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a market cap of $54.46 billion, a PE ratio of 20.51, a P/E/G ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 1-year low of $77.51 and a 1-year high of $105.18.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AEP shares. Morgan Stanley cut their target price on shares of 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. JPMorgan Chase & Co. restated 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 upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, BMO Capital Markets cut their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.00.

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.