Geneos Wealth Management Inc. Sells 147 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Geneos Wealth Management Inc. lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,618 shares of the company’s stock after selling 147 shares during the quarter. Geneos Wealth Management Inc.’s holdings in American Electric Power were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AEP. State Street Corp boosted its holdings in American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.9% during the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC lifted its position in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Evercore ISI cut their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Wells Fargo & Company reduced their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Up 4.5 %

NASDAQ:AEP opened at $102.63 on Tuesday. The company has a market cap of $54.61 billion, a P/E ratio of 20.57, a P/E/G ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. 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 stock’s fifty day moving average price is $94.87 and its two-hundred day moving average price is $97.32.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.62%. American Electric Power’s dividend payout ratio is currently 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.