Cigna Investments Inc. New Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cigna Investments Inc. New cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,413 shares of the company’s stock after selling 143 shares during the quarter. Cigna Investments Inc. New’s holdings in American Electric Power were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HHM Wealth Advisors LLC raised its position in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after acquiring an additional 105 shares during the period. Bank of Stockton grew its holdings in American Electric Power by 2.2% during the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares in the last quarter. First United Bank & Trust increased its position in American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after purchasing an additional 112 shares during the period. Finally, Richardson Financial Services Inc. raised its holdings in shares of American Electric Power by 3.9% in the 1st quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 1.5 %

NASDAQ AEP opened at $97.25 on Friday. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The company has a fifty day simple moving average of $100.68 and a two-hundred day simple moving average of $94.35. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a market cap of $51.75 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.78 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. On average, analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is an increase 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 dividend yield of 3.83%. American Electric Power’s payout ratio is 70.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research 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 stock a “neutral” rating in a report on Monday, July 22nd. Finally, 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 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.43.

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.