Raleigh Capital Management Inc. Sells 506 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Raleigh Capital Management Inc. lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,983 shares of the company’s stock after selling 506 shares during the quarter. Raleigh Capital Management Inc.’s holdings in American Electric Power were worth $1,382,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in shares of American Electric Power by 10.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock valued at $2,346,000 after purchasing an additional 2,593 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of American Electric Power by 50.2% during the second quarter. Public Sector Pension Investment Board now owns 89,411 shares of the company’s stock worth $7,845,000 after purchasing an additional 29,884 shares during the period. Magnetar Financial LLC purchased a new stake in American Electric Power in the second quarter valued at approximately $877,000. Evergreen Capital Management LLC increased its holdings in American Electric Power by 1.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 7,695 shares of the company’s stock worth $675,000 after buying an additional 133 shares during the period. Finally, Xponance Inc. raised its holdings in shares of American Electric Power by 4.2% during the second quarter. Xponance Inc. now owns 76,452 shares of the company’s stock worth $6,708,000 after purchasing an additional 3,068 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AEP shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Bank of America upgraded 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. UBS Group upped 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. Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

NASDAQ AEP opened at $97.49 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock’s fifty day moving average is $94.76 and its two-hundred day moving average is $97.11. The firm has a market capitalization of $51.88 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, February 10th. American Electric Power’s 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.