Independent Advisor Alliance Has $5.12 Million Position in American Electric Power Company, Inc. $AEP

Independent Advisor Alliance raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 25.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,495 shares of the company’s stock after buying an additional 9,188 shares during the period. Independent Advisor Alliance’s holdings in American Electric Power were worth $5,118,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in American Electric Power by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 52,467,779 shares of the company’s stock valued at $5,444,057,000 after purchasing an additional 197,998 shares during the period. State Street Corp lifted its position in shares of American Electric Power by 2.3% in the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock worth $2,958,869,000 after purchasing an additional 653,712 shares during the period. Geode Capital Management LLC boosted its stake in shares of American Electric Power by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock valued at $1,379,532,000 after purchasing an additional 285,000 shares during the last quarter. Invesco Ltd. increased its position in shares of American Electric Power by 5.9% during the second quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after buying an additional 432,441 shares during the period. Finally, Legal & General Group Plc increased its position in shares of American Electric Power by 5.9% during the second quarter. Legal & General Group Plc now owns 4,912,388 shares of the company’s stock worth $509,709,000 after buying an additional 272,214 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AEP shares. UBS Group dropped their target price on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a report on Wednesday, December 17th. BTIG Research assumed coverage on American Electric Power in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Mizuho upped their target price on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Finally, Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Moderate Buy” and an average target price of $127.39.

Insider Activity

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the completion of the sale, the director owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Up 0.5%

AEP stock opened at $119.78 on Monday. The stock’s 50 day simple moving average is $117.25 and its 200 day simple moving average is $115.09. The company has a market cap of $63.97 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $124.80.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.