Hartford Financial Management Inc. Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Financial Management Inc. trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 28.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,000 shares of the company’s stock after selling 800 shares during the quarter. Hartford Financial Management Inc.’s holdings in American Electric Power were worth $184,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the third quarter worth $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power in the 3rd quarter valued at $48,000. Decker Retirement Planning Inc. acquired a new position in American Electric Power in the 4th quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in American Electric Power during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $98.03 on Friday. The company has a market cap of $52.16 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.77 and a beta of 0.56. The firm’s 50 day moving average is $95.09 and its two-hundred day moving average is $97.47. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

Analysts Set New Price Targets

AEP has been the topic of several analyst reports. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays cut 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 report on Tuesday, November 26th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target 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.