Independent Advisor Alliance Sells 739 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Independent Advisor Alliance lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,860 shares of the company’s stock after selling 739 shares during the quarter. Independent Advisor Alliance’s holdings in American Electric Power were worth $3,064,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AEP. OLD National Bancorp IN lifted its position in shares of American Electric Power by 14.4% during the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock worth $10,572,000 after purchasing an additional 15,138 shares during the last quarter. MainStreet Investment Advisors LLC lifted its position in shares of 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. lifted its position in shares of American Electric Power by 1,140.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares during the last quarter. New England Asset Management Inc. acquired a new position in shares of American Electric Power during the 3rd quarter worth about $3,404,000. Finally, ING Groep NV lifted its position in shares of American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AEP shares. Evercore ISI cut their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley cut their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Up 0.5 %

NASDAQ AEP opened at $98.10 on Tuesday. The firm has a market cap of $52.20 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $98.97 and its 200 day simple moving average is $95.59. American Electric Power Company, Inc. has a one year low of $75.22 and a one year 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. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) 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.