Zurich Insurance Group Ltd FI decreased its position in American Electric Power Company, Inc. (NYSE:AEP) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,349 shares of the utilities provider’s stock after selling 10,322 shares during the period. Zurich Insurance Group Ltd FI’s holdings in American Electric Power were worth $5,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AEP. Vanguard Group Inc. increased its position in American Electric Power by 2.5% in the second quarter. Vanguard Group Inc. now owns 34,987,758 shares of the utilities provider’s stock worth $2,430,599,000 after purchasing an additional 859,169 shares during the period. BlackRock Inc. raised its holdings in American Electric Power by 2,394.3% during the 1st quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after purchasing an additional 32,463,953 shares during the last quarter. State Street Corp raised its holdings in American Electric Power by 0.6% during the 1st quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock worth $1,682,343,000 after purchasing an additional 153,485 shares during the last quarter. Wells Fargo & Company MN lifted its position in American Electric Power by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 7,769,068 shares of the utilities provider’s stock valued at $539,718,000 after purchasing an additional 100,204 shares during the period. Finally, Alliancebernstein L.P. lifted its position in American Electric Power by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 6,350,925 shares of the utilities provider’s stock valued at $441,199,000 after purchasing an additional 224,199 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

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Shares of American Electric Power Company, Inc. (AEP) traded up 0.41% during trading on Monday, hitting $70.53. 342,541 shares of the stock were exchanged. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $74.59. The firm’s 50 day moving average price is $72.53 and its 200-day moving average price is $69.78. The stock has a market cap of $34.69 billion, a P/E ratio of 60.70 and a beta of 0.28.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.07). The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same period in the previous year, the company posted $0.95 EPS. On average, analysts predict that American Electric Power Company, Inc. will post $3.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, August 8th. American Electric Power’s dividend payout ratio is currently 203.45%.

Several brokerages have recently commented on AEP. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $73.00 in a report on Friday, September 22nd. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price objective on shares of American Electric Power in a research note on Wednesday, July 19th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. American Electric Power presently has a consensus rating of “Hold” and an average price target of $71.90.

American Electric Power Profile

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.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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