The Manufacturers Life Insurance Company Sells 116,766 Shares of American Electric Power Company Inc (AEP)

The Manufacturers Life Insurance Company lowered its holdings in American Electric Power Company Inc (NYSE:AEP) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,245,526 shares of the utilities provider’s stock after selling 116,766 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.25% of American Electric Power worth $91,633,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AEP. Wells Fargo & Company MN boosted its stake in shares of American Electric Power by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock valued at $850,164,000 after purchasing an additional 1,526,465 shares during the period. ACG Wealth purchased a new position in shares of American Electric Power in the fourth quarter valued at $204,000. Public Employees Retirement System of Ohio boosted its stake in shares of American Electric Power by 0.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 343,754 shares of the utilities provider’s stock valued at $25,290,000 after purchasing an additional 1,561 shares during the period. Willingdon Wealth Management boosted its stake in shares of American Electric Power by 17.4% in the fourth quarter. Willingdon Wealth Management now owns 21,341 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 3,159 shares during the period. Finally, Pinnacle Financial Partners Inc. boosted its stake in shares of American Electric Power by 4.3% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 36,620 shares of the utilities provider’s stock valued at $2,694,000 after purchasing an additional 1,514 shares during the period. 70.74% of the stock is owned by institutional investors.

A number of research analysts have commented on AEP shares. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective on the stock in a research note on Wednesday, December 13th. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Royal Bank of Canada reiterated a “hold” rating and set a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. Finally, Bank of America started coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They set a “buy” rating and a $79.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $74.36.

Shares of American Electric Power Company Inc (AEP) opened at $67.26 on Friday. The firm has a market cap of $33,080.00, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 3.18 and a beta of 0.18. American Electric Power Company Inc has a twelve month low of $63.32 and a twelve month high of $78.07. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 1.04.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. sell-side analysts anticipate that American Electric Power Company Inc will post 3.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.69%. American Electric Power’s dividend payout ratio (DPR) is 64.75%.

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American Electric Power Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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