German American Bancorp Inc. Acquires 322 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

German American Bancorp Inc. raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,869 shares of the company’s stock after purchasing an additional 322 shares during the period. German American Bancorp Inc.’s holdings in American Electric Power were worth $294,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AEP. OLD National Bancorp IN raised its holdings in American Electric Power by 14.4% in the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after acquiring an additional 15,138 shares during the period. MainStreet Investment Advisors LLC lifted its holdings in American Electric Power by 13.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $3,730,000 after purchasing an additional 4,971 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in American Electric Power by 1,140.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after purchasing an additional 419,870 shares during the period. CANADA LIFE ASSURANCE Co increased its position in American Electric Power by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 263,368 shares of the company’s stock worth $22,697,000 after buying an additional 5,537 shares during the period. Finally, ING Groep NV lifted its holdings 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 worth $30,217,000 after buying an additional 208,974 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AEP has been the topic of several research reports. Evercore ISI decreased 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 note on Thursday, November 7th. Scotiabank increased their target price on shares of 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. Bank of America boosted their price target 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. UBS Group raised their price objective on 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, Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Up 0.1 %

Shares of NASDAQ AEP opened at $96.80 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. 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 50 day simple moving average of $99.34 and a 200 day simple moving average of $95.39. The firm has a market cap of $51.51 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The business 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 dividend of $0.93 per share. 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. This represents a $3.72 annualized dividend and a yield of 3.84%. American Electric Power’s payout ratio is presently 74.55%.

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.