Massachusetts Financial Services Co. MA Sells 194,280 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Massachusetts Financial Services Co. MA cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900,553 shares of the company’s stock after selling 194,280 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.92% of American Electric Power worth $451,978,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC boosted its holdings in shares of American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after acquiring an additional 3,288 shares during the period. Secure Asset Management LLC boosted its stake in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after purchasing an additional 4,370 shares during the period. Grove Bank & Trust grew its holdings in American Electric Power by 436.9% during the 4th 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 stake in shares of American Electric Power during the fourth quarter valued at about $419,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $107.75 on Thursday. The company’s fifty day moving average is $103.44 and its 200 day moving average is $99.23. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.76. The stock has a market cap of $57.51 billion, a PE ratio of 19.24, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period last year, the firm posted $1.23 earnings per share. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio is 66.43%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley increased their price objective on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. BMO Capital Markets boosted their target price on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.77.

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.