Confluence Wealth Services Inc. Has $523,000 Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Confluence Wealth Services Inc. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 67.0% in the third quarter, HoldingsChannel reports. The firm owned 5,101 shares of the company’s stock after buying an additional 2,046 shares during the period. Confluence Wealth Services Inc.’s holdings in American Electric Power were worth $523,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC boosted its stake in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. boosted its position in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after purchasing an additional 105 shares during the period. Roanoke Asset Management Corp NY increased its holdings in shares of American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the last quarter. Bank of Stockton raised its position in shares of American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares during the period. Finally, First United Bank & Trust lifted its stake in shares of American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.25 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The company has a market cap of $51.75 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a 50 day moving average of $100.68 and a 200-day moving average of $94.54. American Electric Power Company, Inc. has a 1-year low of $74.97 and a 1-year high of $105.18.

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 represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEP. Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Barclays lifted their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.43.

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.