Atomi Financial Group Inc. Sells 1,339 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Atomi Financial Group Inc. cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,325 shares of the company’s stock after selling 1,339 shares during the quarter. Atomi Financial Group Inc.’s holdings in American Electric Power were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Grove Bank & Trust lifted its position in American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc bought a new stake in American Electric Power during the fourth quarter valued at approximately $419,000. Principal Financial Group Inc. lifted its position in American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the last quarter. New England Asset Management Inc. bought a new stake in shares of American Electric Power in the 3rd quarter worth approximately $3,404,000. Finally, ING Groep NV lifted its holdings in shares of American Electric Power by 244.3% in the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after acquiring an additional 208,974 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.0 %

Shares of American Electric Power stock opened at $97.47 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company’s fifty day simple moving average is $94.76 and its two-hundred day simple moving average is $97.11. The company has a market cap of $51.87 billion, a P/E ratio of 19.53, a PEG ratio of 2.78 and a beta of 0.56. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AEP shares. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday. Morgan Stanley lowered their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power 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.