Stock Yards Bank & Trust Co. Sells 690 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Stock Yards Bank & Trust Co. decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,510 shares of the company’s stock after selling 690 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Electric Power were worth $416,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Greenleaf Trust raised its stake in American Electric Power by 3.9% during the 4th quarter. Greenleaf Trust now owns 9,746 shares of the company’s stock worth $899,000 after acquiring an additional 369 shares during the period. Avantra Family Wealth Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at $458,000. DAVENPORT & Co LLC lifted its stake in shares of American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after buying an additional 3,288 shares in the last quarter. Tritonpoint Wealth LLC boosted its holdings in American Electric Power by 15.3% in the 4th quarter. Tritonpoint Wealth LLC now owns 3,460 shares of the company’s stock worth $319,000 after buying an additional 460 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in American Electric Power by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,281 shares of the company’s stock worth $2,239,000 after buying an additional 646 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP stock opened at $99.36 on Tuesday. The stock has a market cap of $52.87 billion, a PE ratio of 19.91, a P/E/G ratio of 2.79 and a beta of 0.56. 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 $95.11 and a 200 day moving average price of $97.60. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Evercore ISI cut their price objective on 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. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.