Apollon Wealth Management LLC Cuts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Apollon Wealth Management LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,728 shares of the company’s stock after selling 580 shares during the period. Apollon Wealth Management LLC’s holdings in American Electric Power were worth $2,127,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC boosted its stake 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 during the last quarter. LRI Investments LLC boosted its stake in American Electric Power by 935.9% during 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 stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Naples Money Management LLC purchased a new stake in American Electric Power during the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power during the 2nd quarter valued at $48,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

NASDAQ:AEP opened at $93.33 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business’s 50-day simple moving average is $100.23 and its two-hundred day simple moving average is $95.10. The stock has a market cap of $49.66 billion, a PE ratio of 18.70, a P/E/G ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.99%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lowered their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Bank of America increased their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, 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 target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.27.

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.