MML Investors Services LLC Sells 3,872 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

MML Investors Services LLC cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,621 shares of the company’s stock after selling 3,872 shares during the quarter. MML Investors Services LLC’s holdings in American Electric Power were worth $14,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Pathway Financial Advisers LLC grew its position in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares during the period. Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. State Street Corp increased its position in American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. FMR LLC raised its stake in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after buying an additional 1,087,163 shares during the period. Finally, Zacks Investment Management bought a new position in shares of American Electric Power during the 3rd quarter worth approximately $80,207,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company decreased their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Finally, Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Two research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $98.20.

American Electric Power Trading Down 0.5 %

Shares of AEP opened at $95.10 on Wednesday. The stock has a market capitalization of $50.60 billion, a P/E ratio of 19.06, a PEG ratio of 2.77 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. 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 firm has a fifty day simple moving average of $98.13 and a two-hundred day simple moving average of $96.03.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.91%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) 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.