Atomi Financial Group Inc. Sells 1,339 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Atomi Financial Group Inc. trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,325 shares of the company’s stock after selling 1,339 shares during the period. Atomi Financial Group Inc.’s holdings in American Electric Power were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust lifted its stake in shares of American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc bought a new position in shares of American Electric Power during the fourth quarter valued at about $419,000. Principal Financial Group Inc. lifted its position in shares of American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares in the last quarter. New England Asset Management Inc. bought a new position in shares of American Electric Power during the third quarter valued at about $3,404,000. Finally, ING Groep NV lifted its position in shares of American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after purchasing an additional 208,974 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Price Performance

AEP opened at $97.47 on Friday. The company has a market capitalization of $51.87 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $94.76 and a 200-day moving average price of $97.11. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.82%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. UBS Group raised 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, November 7th. Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Evercore ISI dropped their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.00.

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.