Executive Wealth Management LLC Acquires Shares of 17,424 American Electric Power Company, Inc. (NASDAQ:AEP)

Executive Wealth Management LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,424 shares of the company’s stock, valued at approximately $1,788,000.

A number of other hedge funds also recently modified their holdings of the stock. CWA Asset Management Group LLC bought a new position in American Electric Power in the 3rd quarter valued at about $1,208,000. Equitable Trust Co. grew its position in shares of American Electric Power by 15.2% in the third quarter. Equitable Trust Co. now owns 15,555 shares of the company’s stock valued at $1,596,000 after purchasing an additional 2,050 shares during the last quarter. Stiles Financial Services Inc increased its stake in shares of American Electric Power by 10.7% during the third quarter. Stiles Financial Services Inc now owns 2,805 shares of the company’s stock worth $288,000 after purchasing an additional 272 shares during the period. First National Bank & Trust Co. of Newtown bought a new stake in American Electric Power in the 3rd quarter valued at $211,000. Finally, Verity Asset Management Inc. acquired a new position in American Electric Power in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company cut their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley increased their target price on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. UBS Group lifted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday. Finally, Evercore ISI reduced their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.27.

American Electric Power Trading Up 1.0 %

Shares of AEP stock opened at $96.40 on Friday. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The stock’s fifty day simple moving average is $100.59 and its 200 day simple moving average is $94.79. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $51.30 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.81 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

American Electric Power Company 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.