Apollon Wealth Management LLC Acquires 1,653 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Apollon Wealth Management LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,381 shares of the company’s stock after acquiring an additional 1,653 shares during the quarter. Apollon Wealth Management LLC’s holdings in American Electric Power were worth $2,064,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC raised its position in shares of American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after purchasing an additional 3,288 shares during the period. Secure Asset Management LLC raised its holdings in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after acquiring an additional 4,370 shares during the period. Grove Bank & Trust lifted its position in American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after acquiring an additional 5,771 shares during the last quarter. J2 Capital Management Inc bought a new stake in shares of American Electric Power during the fourth quarter worth approximately $419,000. Finally, Principal Financial Group Inc. grew its position in shares of American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AEP shares. Barclays reduced their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets decreased their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. One 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, the stock currently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Up 0.2 %

AEP opened at $100.35 on Monday. The company’s 50 day moving average is $95.11 and its 200-day moving average is $97.77. The company has a market cap of $53.40 billion, a P/E ratio of 20.11, a PEG ratio of 2.84 and a beta of 0.58. 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 current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio (DPR) 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.