Tokio Marine Asset Management Co. Ltd. decreased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 29.7% during the second quarter, Holdings Channel reports. The fund owned 4,872 shares of the utilities provider’s stock after selling 2,055 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in American Electric Power were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Pension Service increased its position in shares of American Electric Power by 4.5% in the first quarter. National Pension Service now owns 380,734 shares of the utilities provider’s stock valued at $25,570,000 after buying an additional 16,491 shares during the last quarter. Alpha Windward LLC increased its position in shares of American Electric Power by 0.8% in the first quarter. Alpha Windward LLC now owns 3,118 shares of the utilities provider’s stock valued at $209,000 after buying an additional 24 shares during the last quarter. BKD Wealth Advisors LLC increased its position in shares of American Electric Power by 10.3% in the first quarter. BKD Wealth Advisors LLC now owns 7,091 shares of the utilities provider’s stock valued at $476,000 after buying an additional 663 shares during the last quarter. Atria Investments LLC increased its position in shares of American Electric Power by 5.5% in the first quarter. Atria Investments LLC now owns 3,663 shares of the utilities provider’s stock valued at $246,000 after buying an additional 191 shares during the last quarter. Finally, Integrated Wealth Management increased its position in shares of American Electric Power by 4.0% in the first quarter. Integrated Wealth Management now owns 9,686 shares of the utilities provider’s stock valued at $650,000 after buying an additional 371 shares during the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

American Electric Power Company, Inc. (AEP) opened at 71.36 on Friday. The company has a 50-day moving average price of $69.90 and a 200 day moving average price of $68.03. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The firm has a market capitalization of $35.10 billion, a P/E ratio of 61.41 and a beta of 0.30.

American Electric Power (NYSE:AEP) last released its quarterly earnings results 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 return on equity of 10.32% and a net margin of 3.60%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the firm earned $0.95 earnings per share. Analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.31%. American Electric Power’s dividend payout ratio (DPR) is 203.45%.

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AEP has been the subject of several research analyst reports. Mizuho reaffirmed a “buy” rating and set a $72.50 target price on shares of American Electric Power in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and set a $76.00 target price (up from $71.00) on shares of American Electric Power in a research note on Sunday, April 23rd. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Jefferies Group LLC upped their target price on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.17.

In other news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

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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