Cassaday & Co Wealth Management LLC Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cassaday & Co Wealth Management LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,673 shares of the company’s stock after buying an additional 702 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in American Electric Power were worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its holdings in American Electric Power by 60.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock valued at $4,285,000 after buying an additional 18,726 shares during the last quarter. OLD National Bancorp IN grew its stake in shares of American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock worth $10,572,000 after purchasing an additional 15,138 shares during the last quarter. MainStreet Investment Advisors LLC grew its position 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 buying an additional 4,971 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after buying an additional 419,870 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of American Electric Power by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 263,368 shares of the company’s stock valued at $22,697,000 after purchasing an additional 5,537 shares during the period. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

NASDAQ AEP opened at $96.49 on Tuesday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The stock has a 50-day moving average of $99.60 and a 200 day moving average of $95.32. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market capitalization of $51.34 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. 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 yield of 3.86%. American Electric Power’s dividend payout ratio is 74.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Scotiabank increased their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Barclays boosted their price objective on shares of 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. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $98.27.

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.