Wilmington Savings Fund Society FSB Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Wilmington Savings Fund Society FSB raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,162 shares of the company’s stock after purchasing an additional 425 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in American Electric Power were worth $568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC raised its position in American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after purchasing an additional 3,288 shares during the period. Secure Asset Management LLC raised its holdings in shares of American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after buying an additional 4,370 shares during the period. Grove Bank & Trust lifted its position in American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after acquiring an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new position in American Electric Power in the 4th quarter worth approximately $419,000. Finally, Principal Financial Group Inc. grew its position in American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after acquiring an additional 19,081 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.5 %

AEP stock opened at $100.83 on Tuesday. The firm has a market cap of $53.65 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 1-year low of $76.31 and a 1-year high of $105.18. The firm has a fifty day moving average price of $95.11 and a two-hundred day moving average price of $97.79. 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 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 dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.69%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AEP shares. Evercore ISI reduced their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays cut their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Finally, UBS Group increased their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.