ING Groep NV Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

ING Groep NV lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 244.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,515 shares of the company’s stock after acquiring an additional 208,974 shares during the quarter. ING Groep NV’s holdings in American Electric Power were worth $30,217,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AEP. Mizuho Markets Americas LLC boosted its position in shares of American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after buying an additional 226,435 shares during the period. O Shaughnessy Asset Management LLC increased its stake in American Electric Power by 60.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after purchasing an additional 18,726 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of American Electric Power by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock worth $57,197,000 after purchasing an additional 96,645 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of American Electric Power by 14.4% during the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after purchasing an additional 15,138 shares during the period. Finally, MainStreet Investment Advisors LLC grew its holdings in shares of American Electric Power by 13.2% in the second quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $3,730,000 after purchasing an additional 4,971 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.8 %

Shares of AEP stock traded up $0.77 during trading hours on Thursday, reaching $94.10. 479,618 shares of the company’s stock were exchanged, compared to its average volume of 3,142,194. The stock has a market cap of $50.07 billion, a PE ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. 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 stock’s fifty day moving average price is $100.04 and its two-hundred day moving average price is $95.09. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.95%. American Electric Power’s dividend payout ratio is presently 74.55%.

Analysts Set New Price Targets

Several research firms have issued reports on AEP. BMO Capital Markets lowered their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on 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 lifted their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Two equities 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $98.27.

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.