American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,764 shares of the company’s stock after selling 1,812 shares during the quarter. Fifth Third Bancorp’s holdings in American Electric Power were worth $18,701,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $48,000. Friedenthal Financial bought a new stake in American Electric Power during the 3rd quarter valued at $50,000. Finally, Future Financial Wealth Managment LLC acquired a new position in American Electric Power during the 3rd quarter worth $50,000. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AEP shares. 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 report on Thursday, November 7th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Price Performance

AEP stock opened at $98.18 on Friday. 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 50-day moving average of $94.87 and a two-hundred day moving average of $97.19. The firm has a market capitalization of $52.24 billion, a PE ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is 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.