The Manufacturers Life Insurance Company Sells 15,190 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

The Manufacturers Life Insurance Company trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 778,707 shares of the company’s stock after selling 15,190 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in American Electric Power were worth $79,895,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its stake in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. LRI Investments LLC raised its position in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Briaud Financial Planning Inc lifted its holdings in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Naples Money Management LLC bought a new stake in American Electric Power during the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power during the second quarter worth $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the subject of a number of analyst reports. Wells Fargo & Company reduced 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 report on Thursday, November 7th. UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. BMO Capital Markets dropped their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.93.

American Electric Power Stock Performance

NASDAQ AEP opened at $99.89 on Thursday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a market capitalization of $53.15 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.83 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. The company has a 50-day simple moving average of $98.81 and a 200 day simple moving average of $95.67.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) 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.