Chevy Chase Trust Holdings LLC Sells 165,664 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 920,054 shares of the company’s stock after selling 165,664 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in American Electric Power were worth $94,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEP. OLD National Bancorp IN increased its holdings in shares of American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after purchasing an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC boosted its position in American Electric Power by 13.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after buying an additional 4,971 shares during the last quarter. New England Asset Management Inc. acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $3,404,000. Assenagon Asset Management S.A. raised its position in shares of American Electric Power by 1,140.5% during the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after acquiring an additional 419,870 shares during the last quarter. Finally, ING Groep NV lifted its stake in shares of American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after acquiring an additional 208,974 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank lifted their price objective on 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. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Finally, Evercore ISI cut their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $97.93.

American Electric Power Trading Down 0.0 %

NASDAQ AEP opened at $99.86 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock’s 50-day moving average is $98.72 and its 200-day moving average is $95.82. 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 market cap of $53.14 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently declared 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 represents a $3.72 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 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.