American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.1% in the 3rd quarter, Holdings Channel reports. The firm owned 40,842 shares of the company’s stock after selling 9,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in American Electric Power were worth $4,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC increased its holdings 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 purchasing an additional 103 shares during the last quarter. LRI Investments LLC grew its stake in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc grew its stake in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new position in shares of American Electric Power in the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of American Electric Power in the second quarter worth $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Wells Fargo & Company dropped their price target on shares of 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. Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets lowered their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two 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 an average rating of “Hold” and a consensus price target of $97.93.

American Electric Power Price Performance

Shares of AEP opened at $99.33 on Wednesday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The stock has a market cap of $52.86 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a fifty day moving average price of $98.87 and a 200 day moving average price of $95.64.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a boost 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 3.75%. American Electric Power’s payout ratio is 74.55%.

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.