American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,400 shares of the company’s stock after selling 264 shares during the quarter. Institute for Wealth Management LLC.’s holdings in American Electric Power were worth $406,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Pathway Financial Advisers LLC grew its position in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC grew its position in American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. State Street Corp grew its position in American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC grew its position in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in American Electric Power during the 3rd quarter worth approximately $80,207,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Up 0.3 %

AEP stock opened at $98.36 on Friday. 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 Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a fifty day simple moving average of $95.09 and a 200 day simple moving average of $97.48. The firm has a market cap of $52.34 billion, a PE ratio of 19.71, a PEG ratio of 2.78 and a beta of 0.56.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEP. Barclays lowered their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.00.

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.