Wrapmanager Inc. Has $257,000 Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Wrapmanager Inc. reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 28.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,509 shares of the company’s stock after selling 984 shares during the period. Wrapmanager Inc.’s holdings in American Electric Power were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. HHM Wealth Advisors LLC increased its position in 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 purchasing an additional 103 shares during the period. LRI Investments LLC grew its position in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the period. Briaud Financial Planning Inc raised its stake in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Naples Money Management LLC acquired a new position in American Electric Power in the second quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in American Electric Power in the second quarter valued at approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AEP shares. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley upped their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Evercore ISI reduced their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Bank of America upped their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Barclays lifted their target price on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two equities 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 stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $98.27.

American Electric Power Trading Up 0.2 %

NASDAQ:AEP opened at $96.70 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a market cap of $51.46 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The business has a 50 day moving average price of $99.47 and a two-hundred day moving average price of $95.38.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.85%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.