Sumitomo Life Insurance Co. Sells 462 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Life Insurance Co. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% in the 4th quarter, Holdings Channel reports. The fund owned 8,275 shares of the company’s stock after selling 462 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in American Electric Power were worth $763,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new position in American Electric Power in the 3rd quarter worth approximately $48,000. Friedenthal Financial purchased a new position in American Electric Power in the 3rd quarter valued at approximately $50,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays cut their target price 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. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Down 2.0 %

AEP opened at $98.05 on Thursday. The business’s fifty day simple moving average is $95.06 and its 200 day simple moving average is $97.47. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market cap of $52.17 billion, a PE ratio of 19.65, a P/E/G ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is presently 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.