Summit Trail Advisors LLC Has $463,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Summit Trail Advisors LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,513 shares of the company’s stock after purchasing an additional 509 shares during the quarter. Summit Trail Advisors LLC’s holdings in American Electric Power were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its position in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares during the period. Raymond James & Associates grew its holdings in shares of American Electric Power by 51.1% in the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after purchasing an additional 623,789 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of American Electric Power by 1,140.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in American Electric Power by 8,396.3% during the 3rd quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock valued at $361,070,000 after purchasing an additional 347,776 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

AEP stock opened at $99.33 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The business’s fifty day moving average is $98.87 and its 200-day moving average is $95.64. The company has a market cap of $52.86 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.75%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AEP shares. Jefferies Financial Group began coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets lowered their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.93.

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.