American Electric Power Company, Inc. $AEP Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 889,448 shares of the company’s stock after selling 24,291 shares during the period. Rhumbline Advisers owned approximately 0.17% of American Electric Power worth $100,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. West Family Investments Inc. acquired a new position in American Electric Power in the 2nd quarter worth about $256,000. Commerzbank Aktiengesellschaft FI lifted its position in shares of American Electric Power by 462.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 52,953 shares of the company’s stock valued at $5,958,000 after buying an additional 43,533 shares in the last quarter. Benjamin Edwards Inc. grew its stake in American Electric Power by 228.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 51,659 shares of the company’s stock valued at $5,812,000 after acquiring an additional 35,938 shares during the period. Invesco Ltd. raised its position in American Electric Power by 5.9% during the second quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after acquiring an additional 432,441 shares during the period. Finally, CWM LLC raised its position in American Electric Power by 807.5% during the third quarter. CWM LLC now owns 263,751 shares of the company’s stock worth $29,672,000 after acquiring an additional 234,689 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction 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 in the company, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AEP shares. Bank of America cut shares of American Electric Power from a “buy” rating to a “neutral” rating and cut their target price for the stock from $131.00 to $122.00 in a research note on Monday, January 12th. Morgan Stanley reissued an “overweight” rating and set a $125.00 target price on shares of American Electric Power in a report on Wednesday, January 21st. UBS Group lowered their price target on American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a research note on Wednesday, December 17th. Barclays upped their target price on shares of American Electric Power from $117.00 to $121.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of American Electric Power from $128.00 to $133.00 in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.39.

American Electric Power Stock Performance

NASDAQ:AEP opened at $122.25 on Thursday. The company’s 50-day moving average is $117.16 and its two-hundred day moving average is $115.72. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $124.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. The firm has a market capitalization of $65.29 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.89 and a beta of 0.62.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

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.