Daiwa Securities Group Inc. Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Daiwa Securities Group Inc. boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,589 shares of the company’s stock after purchasing an additional 3,331 shares during the quarter. Daiwa Securities Group Inc.’s holdings in American Electric Power were worth $15,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEP. Pathway Financial Advisers LLC increased its holdings in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. Zimmer Partners LP grew its stake in American Electric Power by 578.2% during the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after buying an additional 831,235 shares during the last quarter. Raymond James & Associates grew its stake in American Electric Power by 51.1% during the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after buying an additional 623,789 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in American Electric Power by 1,140.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after buying an additional 419,870 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in American Electric Power by 8,396.3% during the 3rd quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock worth $361,070,000 after buying an additional 347,776 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.5 %

NASDAQ:AEP opened at $97.59 on Monday. The firm has a market capitalization of $51.93 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.83 and a beta of 0.55. 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 current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The business’s fifty day moving average price is $99.11 and its 200 day moving average price is $95.54.

American Electric Power Increases Dividend

The company also recently announced 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. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEP. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets reduced their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average target price of $98.00.

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.