American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 878,901 shares of the company’s stock after acquiring an additional 163,297 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of American Electric Power worth $90,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. Bleakley Financial Group LLC boosted its position in American Electric Power by 6.7% during the first quarter. Bleakley Financial Group LLC now owns 18,293 shares of the company’s stock worth $1,575,000 after acquiring an additional 1,148 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in 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 acquiring an additional 96,645 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in American Electric Power by 1.0% during the first quarter. Kingsview Wealth Management LLC now owns 13,288 shares of the company’s stock worth $1,144,000 after acquiring an additional 136 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in American Electric Power by 2.7% during the first quarter. HBK Sorce Advisory LLC now owns 9,123 shares of the company’s stock worth $786,000 after acquiring an additional 237 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in American Electric Power by 1.3% during the first quarter. Blair William & Co. IL now owns 39,804 shares of the company’s stock worth $3,427,000 after acquiring an additional 522 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on AEP shares. Evercore ISI decreased their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Guggenheim boosted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power Price Performance

Shares of AEP opened at $93.33 on Thursday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm’s 50 day moving average price is $100.23 and its 200 day moving average price is $95.10. The company has a market cap of $49.66 billion, a P/E ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio 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.