Apollon Wealth Management LLC Sells 580 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Apollon Wealth Management LLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,728 shares of the company’s stock after selling 580 shares during the period. Apollon Wealth Management LLC’s holdings in American Electric Power were worth $2,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Markets Americas LLC lifted its stake in shares of American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after acquiring an additional 226,435 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position 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 purchasing an additional 18,726 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in American Electric Power by 17.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock valued at $57,197,000 after purchasing an additional 96,645 shares during the last quarter. OLD National Bancorp IN raised its position in American Electric Power by 14.4% during the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after purchasing an additional 15,138 shares during the last quarter. Finally, MainStreet Investment Advisors LLC raised its position in American Electric Power by 13.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after purchasing an additional 4,971 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

American Electric Power stock opened at $93.33 on Thursday. 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 company has a market capitalization of $49.66 billion, a P/E ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. The stock’s 50 day moving average is $100.23 and its 200 day moving average is $95.10. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.99%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target 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. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Barclays upped their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $98.27.

American Electric Power 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.