ING Groep NV Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

ING Groep NV raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 244.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,515 shares of the company’s stock after acquiring an additional 208,974 shares during the quarter. ING Groep NV owned approximately 0.06% of American Electric Power worth $30,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in American Electric Power by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after purchasing an additional 405,114 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after buying an additional 776,965 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after acquiring an additional 341,846 shares during the period. Envestnet Asset Management Inc. increased its holdings in American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after acquiring an additional 35,769 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock traded up $0.77 during mid-day trading on Thursday, reaching $94.10. 479,618 shares of the company’s stock traded hands, compared to its average volume of 3,142,194. 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 market cap of $50.07 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. The stock has a 50 day moving average of $100.04 and a two-hundred day moving average of $95.09. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.95%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Barclays increased their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Finally, Guggenheim lifted their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two investment 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. According to data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average target price of $98.27.

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.