Mutual of America Capital Management LLC Sells 960 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Mutual of America Capital Management LLC trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,514 shares of the company’s stock after selling 960 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Electric Power were worth $6,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC increased its stake in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. LRI Investments LLC raised its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc lifted its position in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Naples Money Management LLC bought a new position in shares of American Electric Power in the 2nd quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AEP. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective 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. Wells Fargo & Company cut their target price on 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. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets cut their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Two 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Performance

AEP opened at $96.70 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.78 and a beta of 0.55. The business’s 50-day moving average price is $99.47 and its two-hundred day moving average price is $95.38. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.85%. American Electric Power’s payout ratio is presently 74.55%.

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.