Anchor Investment Management LLC Sells 922 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Anchor Investment Management LLC lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,235 shares of the company’s stock after selling 922 shares during the period. Anchor Investment Management LLC’s holdings in American Electric Power were worth $391,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. DAVENPORT & Co LLC raised its holdings in American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after acquiring an additional 3,288 shares during the period. Secure Asset Management LLC lifted its holdings in American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust boosted its stake in American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the period. J2 Capital Management Inc acquired a new position in American Electric Power in the 4th quarter valued at $419,000. Finally, Principal Financial Group Inc. increased its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEP. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Morgan Stanley boosted their price target on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets raised their price objective on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $100.77.

American Electric Power Stock Down 0.7 %

AEP stock opened at $105.92 on Thursday. The stock has a market capitalization of $56.53 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm has a 50-day moving average price of $104.63 and a 200-day moving average price of $99.42. American Electric Power Company, Inc. has a 12 month low of $79.85 and a 12 month high of $110.48.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the company earned $1.23 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.51%. American Electric Power’s dividend payout ratio is presently 66.43%.

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.