Commerce Bank Has $48.62 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Commerce Bank raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 473,828 shares of the company’s stock after purchasing an additional 15,925 shares during the period. Commerce Bank owned 0.09% of American Electric Power worth $48,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in American Electric Power during the third quarter valued at approximately $1,815,000. Fifth Third Wealth Advisors LLC boosted its position in shares of American Electric Power by 10.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,382 shares of the company’s stock valued at $552,000 after acquiring an additional 506 shares during the period. Prospera Financial Services Inc boosted its position in shares of American Electric Power by 14.6% in the third quarter. Prospera Financial Services Inc now owns 17,937 shares of the company’s stock valued at $1,841,000 after acquiring an additional 2,287 shares during the period. Caprock Group LLC boosted its position in shares of American Electric Power by 8.6% in the third quarter. Caprock Group LLC now owns 7,251 shares of the company’s stock valued at $744,000 after acquiring an additional 573 shares during the period. Finally, Pathstone Holdings LLC boosted its position in shares of American Electric Power by 1.7% in the third quarter. Pathstone Holdings LLC now owns 52,427 shares of the company’s stock valued at $5,379,000 after acquiring an additional 878 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. BMO Capital Markets dropped their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI dropped 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 note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $98.27.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $96.70 on Wednesday. The stock has a market capitalization of $51.46 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $99.47 and a two-hundred day moving average price of $95.38.

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 issued a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is currently 74.55%.

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.