Chevy Chase Trust Holdings LLC Has $94.40 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Chevy Chase Trust Holdings LLC decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 920,054 shares of the company’s stock after selling 165,664 shares during the period. Chevy Chase Trust Holdings LLC owned 0.17% of American Electric Power worth $94,398,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AEP. Pathway Financial Advisers LLC lifted its position in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. FMR LLC lifted its holdings in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares during the last quarter. Raymond James & Associates boosted its position in shares of American Electric Power by 51.1% in the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after acquiring an additional 623,789 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after acquiring an additional 419,870 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in American Electric Power by 8,396.3% during the third quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock worth $361,070,000 after acquiring an additional 347,776 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEP. Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, Evercore ISI reduced their target price on 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $97.93.

American Electric Power Stock Down 0.0 %

Shares of NASDAQ AEP opened at $99.86 on Monday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The business has a fifty day moving average of $98.72 and a two-hundred day moving average of $95.82. The stock has a market cap of $53.14 billion, a PE ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.73%. American Electric Power’s payout ratio is 74.55%.

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.