Independent Advisor Alliance Sells 739 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Independent Advisor Alliance lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 29,860 shares of the company’s stock after selling 739 shares during the period. Independent Advisor Alliance’s holdings in American Electric Power were worth $3,064,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the period. Envestnet Asset Management Inc. raised its stake in American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after buying an additional 35,769 shares during the period. Charles Schwab Investment Management Inc. raised its stake in American Electric Power by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock worth $326,596,000 after buying an additional 51,467 shares during the period. Pathway Financial Advisers LLC raised its stake in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares during the period. Finally, Raymond James & Associates raised its stake in American Electric Power by 51.1% during the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after buying an additional 623,789 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AEP. Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Barclays raised their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $98.10 on Tuesday. The stock has a market capitalization of $52.20 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.82 and a beta of 0.55. The business has a 50-day moving average of $98.97 and a 200-day moving average of $95.59. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

About American Electric Power

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.