Assenagon Asset Management S.A. Acquires 225,063 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Assenagon Asset Management S.A. lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 140.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 385,499 shares of the company’s stock after purchasing an additional 225,063 shares during the quarter. Assenagon Asset Management S.A.’s holdings in American Electric Power were worth $35,555,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the period. New England Asset Management Inc. bought a new stake in shares of American Electric Power during the 3rd quarter valued at about $3,404,000. ING Groep NV grew its holdings in shares of American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of American Electric Power in the third quarter worth approximately $1,815,000. Finally, Executive Wealth Management LLC purchased a new stake in American Electric Power in the third quarter valued at approximately $1,788,000. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AEP. BMO Capital Markets cut their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley cut their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI lowered their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

NASDAQ:AEP opened at $96.82 on Friday. 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 fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm has a market cap of $51.52 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. The business has a 50 day moving average price of $94.50 and a 200-day moving average price of $96.77.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.84%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

American Electric Power 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.