Nomura Asset Management Co. Ltd. Sells 81,361 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Nomura Asset Management Co. Ltd. trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,003 shares of the company’s stock after selling 81,361 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Electric Power were worth $17,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock valued at $4,767,425,000 after buying an additional 763,813 shares during the last quarter. State Street Corp grew its holdings in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares during the last quarter. GQG Partners LLC increased its stake in American Electric Power by 3.7% in the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company’s stock worth $1,389,032,000 after buying an additional 543,054 shares during the period. Geode Capital Management LLC lifted its holdings in American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after buying an additional 352,588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in American Electric Power by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock valued at $427,009,000 after buying an additional 100,578 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.7 %

Shares of NASDAQ:AEP opened at $106.96 on Friday. The business’s 50-day moving average is $102.78 and its 200 day moving average is $99.12. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52. The firm has a market capitalization of $57.08 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the company earned $1.23 EPS. On average, research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.48%. American Electric Power’s dividend payout ratio is currently 66.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEP. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Bank of America boosted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets lifted their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.77.

American Electric Power 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.