Integrated Wealth Concepts LLC Sells 248 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Integrated Wealth Concepts LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,000 shares of the company’s stock after selling 248 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in American Electric Power were worth $2,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC raised its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. LRI Investments LLC grew its position in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc increased its stake in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in American Electric Power during the 2nd quarter worth about $48,000. Finally, Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $48,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 1.2 %

NASDAQ:AEP opened at $97.45 on Friday. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The firm’s fifty day moving average is $98.39 and its 200-day moving average is $95.90. The firm has a market cap of $51.86 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.80 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase 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 3.82%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Analysts Set New Price Targets

Several research firms have weighed in on AEP. JPMorgan Chase & Co. boosted their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. UBS Group raised their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. BMO Capital Markets boosted their target price on American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company cut their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.20.

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.