BI Asset Management Fondsmaeglerselskab A S Acquires 22,548 Shares of American Electric Power Company, Inc. $AEP

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 102.3% in the third quarter, HoldingsChannel reports. The fund owned 44,598 shares of the company’s stock after purchasing an additional 22,548 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in American Electric Power were worth $5,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. PFG Investments LLC increased its position in American Electric Power by 0.3% in the third quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock worth $2,793,000 after buying an additional 83 shares in the last quarter. Strategic Advisors LLC grew its stake in shares of American Electric Power by 0.3% during the 3rd quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock valued at $2,993,000 after acquiring an additional 87 shares during the period. SBI Securities Co. Ltd. increased its holdings in American Electric Power by 16.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 632 shares of the company’s stock worth $71,000 after acquiring an additional 88 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in American Electric Power by 12.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after acquiring an additional 89 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its stake in American Electric Power by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after acquiring an additional 91 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $120.80 on Friday. The company has a market cap of $64.52 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.88 and a beta of 0.62. American Electric Power Company, Inc. has a 52-week low of $97.46 and a 52-week high of $124.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The firm’s fifty day moving average is $117.03 and its two-hundred day moving average is $115.43.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s payout ratio is currently 55.39%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup upped their price target on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Jefferies Financial Group raised shares of American Electric Power from a “hold” rating to a “buy” rating and upped their target price for the stock from $128.00 to $137.00 in a report on Monday, November 17th. BMO Capital Markets increased their price target on American Electric Power from $123.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 27th. TD Cowen raised American Electric Power to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Siebert Williams Shank started coverage on American Electric Power in a research note on Thursday, December 18th. They issued a “buy” rating and a $137.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.39.

Insider Activity at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the transaction, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.