Rehmann Capital Advisory Group Decreases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Rehmann Capital Advisory Group lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,259 shares of the company’s stock after selling 421 shares during the period. Rehmann Capital Advisory Group’s holdings in American Electric Power were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in shares of American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. State Street Corp lifted its holdings in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC lifted its holdings in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of American Electric Power in the third quarter valued at about $80,207,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, UBS Group boosted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $97.13.

American Electric Power Stock Performance

Shares of AEP stock opened at $92.85 on Friday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a 50 day moving average price of $97.65 and a 200 day moving average price of $96.03. The firm has a market capitalization of $49.41 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.77 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.93 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

American Electric Power Company 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.