The Manufacturers Life Insurance Company Has $79.90 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

The Manufacturers Life Insurance Company trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 778,707 shares of the company’s stock after selling 15,190 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of American Electric Power worth $79,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. LRI Investments LLC lifted its position in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Briaud Financial Planning Inc grew its stake in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Reston Wealth Management LLC bought a new position in American Electric Power in the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial acquired a new position in shares of American Electric Power in the 3rd quarter valued at approximately $50,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEP. Wells Fargo & Company decreased 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 research note on Thursday, November 7th. Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley dropped their price objective on 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. JPMorgan Chase & Co. boosted their target price 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. Finally, 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 note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $97.93.

American Electric Power Price Performance

American Electric Power stock opened at $99.89 on Thursday. The firm has a market cap of $53.15 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.83 and a beta of 0.55. The stock’s 50 day moving average is $98.81 and its 200 day moving average is $95.67. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.72%. American Electric Power’s dividend payout ratio is 74.55%.

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.