American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 640,029 shares of the company’s stock after acquiring an additional 19,081 shares during the quarter. Principal Financial Group Inc. owned 0.12% of American Electric Power worth $65,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AEP. MainStreet Investment Advisors LLC grew its holdings in shares of American Electric Power by 13.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $3,730,000 after acquiring an additional 4,971 shares during the last quarter. New England Asset Management Inc. acquired a new position in shares of American Electric Power in the 3rd quarter valued at $3,404,000. ING Groep NV boosted its position 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 valued at $30,217,000 after purchasing an additional 208,974 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in American Electric Power in the 3rd quarter worth about $1,815,000. Finally, L & S Advisors Inc acquired a new stake in American Electric Power during the 2nd quarter worth about $2,398,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ AEP opened at $92.75 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $49.35 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55. 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 50 day moving average price of $96.88 and a two-hundred day moving average price of $96.15.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. 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 payout ratio is presently 74.55%.

Analyst Upgrades and Downgrades

AEP has been the subject of several recent analyst reports. Evercore ISI decreased 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 report on Thursday, November 7th. Scotiabank cut 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 research report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $97.13.

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.