Hartford Funds Management Co LLC Has $1.47 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Funds Management Co LLC lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 22.3% during the third quarter, Holdings Channel.com reports. The firm owned 14,327 shares of the company’s stock after buying an additional 2,617 shares during the period. American Electric Power accounts for approximately 0.1% of Hartford Funds Management Co LLC’s holdings, making the stock its 18th largest position. Hartford Funds Management Co LLC’s holdings in American Electric Power were worth $1,470,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC boosted its holdings in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. LRI Investments LLC boosted its stake in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc grew its position in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the period. Naples Money Management LLC bought a new stake in shares of American Electric Power during the second quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power in the second quarter valued at approximately $48,000. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. BMO Capital Markets decreased their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Trading Down 0.5 %

AEP opened at $97.59 on Friday. The firm’s fifty day simple moving average is $99.11 and its 200 day simple moving average is $95.50. The stock has a market capitalization of $51.93 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.83 and a beta of 0.55. 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 Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

American Electric Power Company Profile

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.