International Assets Investment Management LLC Reduces Position in American Electric Power Company, Inc. (NASDAQ:AEP)

International Assets Investment Management LLC trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 99.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the company’s stock after selling 348,268 shares during the period. International Assets Investment Management LLC’s holdings in American Electric Power were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the third quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power in the 3rd quarter valued at $48,000. Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at $50,000. Finally, Friedenthal Financial acquired a new stake in shares of American Electric Power during the 3rd quarter worth $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.4 %

Shares of NASDAQ:AEP opened at $93.51 on Friday. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. 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 firm has a market cap of $49.76 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The company has a fifty day simple moving average of $94.72 and a 200 day simple moving average of $96.63.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AEP shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Barclays reduced their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Morgan Stanley dropped 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 research report on Friday, November 22nd. Finally, UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.57.

American Electric Power Company 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.