Sovereign Financial Group Inc. Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sovereign Financial Group Inc. lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,369 shares of the company’s stock after buying an additional 468 shares during the period. Sovereign Financial Group Inc.’s holdings in American Electric Power were worth $403,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after purchasing an additional 19,081 shares in the last quarter. New England Asset Management Inc. acquired a new stake in American Electric Power in the third quarter valued at approximately $3,404,000. ING Groep NV raised its holdings in American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after acquiring an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in American Electric Power in the third quarter valued at approximately $1,815,000. Finally, Executive Wealth Management LLC acquired a new stake in American Electric Power in the third quarter valued at approximately $1,788,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $95.12 on Thursday. The company’s 50 day simple moving average is $94.52 and its 200-day simple moving average is $96.78. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month 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 firm has a market cap of $50.62 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.91%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEP. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Barclays cut their price objective 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. Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, BMO Capital Markets cut their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.00.

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.