American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,851 shares of the company’s stock after acquiring an additional 3,440 shares during the quarter. Public Sector Pension Investment Board’s holdings in American Electric Power were worth $9,527,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AEP. Pathway Financial Advisers LLC grew its holdings in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after purchasing an additional 1,963,154 shares during the period. FMR LLC lifted its position in 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 buying an additional 1,087,163 shares during the last quarter. Raymond James & Associates boosted its stake in American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after buying an additional 623,789 shares during the period. Assenagon Asset Management S.A. increased its position in shares of American Electric Power by 1,140.5% during the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after acquiring an additional 419,870 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of American Electric Power by 8,396.3% in the 3rd quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock valued at $361,070,000 after acquiring an additional 347,776 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AEP shares. 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. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Scotiabank upped their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. 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 report on Friday, October 18th. Finally, Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two 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, the stock has an average rating of “Hold” and an average price target of $97.93.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $99.86 on Friday. 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 Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a 50-day simple moving average of $98.72 and a 200-day simple moving average of $95.76. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The business 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 dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.73%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend 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.