American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Private Trust Co. NA

Private Trust Co. NA cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,627 shares of the company’s stock after selling 181 shares during the period. Private Trust Co. NA’s holdings in American Electric Power were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AEP. Brown Brothers Harriman & Co. grew its holdings in shares of American Electric Power by 8.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 12,603 shares of the company’s stock worth $1,293,000 after purchasing an additional 962 shares during the period. DRW Securities LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $2,533,000. Harvest Fund Management Co. Ltd grew its position in American Electric Power by 85.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 29,637 shares of the company’s stock valued at $3,040,000 after acquiring an additional 13,687 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in American Electric Power by 274.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 31,566 shares of the company’s stock worth $3,239,000 after purchasing an additional 23,142 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of American Electric Power by 2.2% during the third quarter. Daiwa Securities Group Inc. now owns 155,589 shares of the company’s stock worth $15,963,000 after purchasing an additional 3,331 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of a number of research reports. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Evercore ISI decreased their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. BMO Capital Markets cut their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company reduced their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group upped 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. Two equities 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 company’s stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Up 0.5 %

American Electric Power stock opened at $98.10 on Tuesday. The stock has a 50-day simple moving average of $98.97 and a 200-day simple moving average of $95.59. The company has a market capitalization of $52.20 billion, a P/E ratio of 19.66, a PEG ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 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.