Great West Life Assurance Co. Can raised its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 733,409 shares of the utilities provider’s stock after buying an additional 57,868 shares during the period. Great West Life Assurance Co. Can’s holdings in American Electric Power were worth $50,870,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AEP. Janney Montgomery Scott LLC increased its stake in American Electric Power by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 61,246 shares of the utilities provider’s stock valued at $4,255,000 after buying an additional 827 shares during the period. Harbour Capital Advisors LLC increased its stake in American Electric Power by 6,847.0% in the second quarter. Harbour Capital Advisors LLC now owns 81,141 shares of the utilities provider’s stock valued at $1,168,000 after buying an additional 79,973 shares during the period. IBM Retirement Fund increased its stake in American Electric Power by 119.5% in the second quarter. IBM Retirement Fund now owns 12,031 shares of the utilities provider’s stock valued at $934,000 after buying an additional 6,549 shares during the period. Sumitomo Life Insurance Co. increased its stake in American Electric Power by 54.4% in the second quarter. Sumitomo Life Insurance Co. now owns 38,313 shares of the utilities provider’s stock valued at $2,662,000 after buying an additional 13,506 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in American Electric Power by 4.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 28,150 shares of the utilities provider’s stock valued at $1,955,000 after buying an additional 1,270 shares during the period. 70.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 70.96 on Thursday. The company has a market capitalization of $34.90 billion, a PE ratio of 61.07 and a beta of 0.30. The stock’s 50 day moving average price is $69.93 and its 200 day moving average price is $68.01. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $72.97.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.07. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, analysts forecast that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.33%. American Electric Power’s payout ratio is currently 203.45%.

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Several equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a report on Wednesday, August 2nd. BidaskClub raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price objective (up from $73.00) on shares of American Electric Power in a report on Friday, July 28th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective on shares of American Electric Power in a report on Wednesday, July 19th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.09.

In other news, insider Paul Chodak III sold 1,110 shares of American Electric Power stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by insiders.

About American Electric Power

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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