Victory Capital Management Inc. Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Victory Capital Management Inc. raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.8% during the third quarter, HoldingsChannel reports. The firm owned 878,901 shares of the company’s stock after buying an additional 163,297 shares during the quarter. Victory Capital Management Inc.’s holdings in American Electric Power were worth $90,175,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AEP. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% in 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 during the last quarter. LRI Investments LLC increased its position in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc boosted 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 valued at $38,000 after buying an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new position in shares of American Electric Power in the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of American Electric Power in the 2nd quarter valued at $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.4 %

Shares of American Electric Power stock opened at $93.33 on Thursday. 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 debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The firm has a fifty day moving average of $100.23 and a two-hundred day moving average of $95.10.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. 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 3.99%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upped their target price 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. Wells Fargo & Company lowered their target price 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. Barclays upped their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group initiated 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 for the company. Finally, Evercore ISI decreased their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.