Principal Financial Group Inc. Has $55.03 Million Stock Holdings in American Electric Power Company, Inc. (NYSE:AEP)

Principal Financial Group Inc. lessened its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 13.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 673,292 shares of the utilities provider’s stock after selling 101,453 shares during the period. Principal Financial Group Inc. owned 0.14% of American Electric Power worth $55,028,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEP. Creative Financial Designs Inc. ADV grew its holdings in American Electric Power by 278.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 378 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 278 shares during the period. Rockbridge Investment Management LCC acquired a new stake in American Electric Power during the 2nd quarter worth $31,000. Weaver Consulting Group grew its holdings in American Electric Power by 75.6% during the 2nd quarter. Weaver Consulting Group now owns 418 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 180 shares during the period. Tortoise Investment Management LLC grew its holdings in American Electric Power by 131.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 497 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 282 shares during the period. Finally, Balentine LLC grew its holdings in American Electric Power by 48.5% during the 2nd quarter. Balentine LLC now owns 661 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 216 shares during the period. 73.16% of the stock is owned by hedge funds and other institutional investors.

AEP has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of American Electric Power from $99.00 to $106.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 20th. KeyCorp lifted their price target on shares of American Electric Power from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Royal Bank of Canada lifted their price target on shares of American Electric Power from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Wolfe Research reissued a “peer perform” rating on shares of American Electric Power in a research report on Monday. Finally, TheStreet raised shares of American Electric Power from a “c+” rating to a “b-” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $96.19.

In other American Electric Power news, EVP Paul Chodak III sold 2,024 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $90.67, for a total transaction of $183,516.08. Following the sale, the executive vice president now directly owns 6,580 shares of the company’s stock, valued at approximately $596,608.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

AEP opened at $89.21 on Tuesday. The stock has a market capitalization of $44.28 billion, a P/E ratio of 23.17, a P/E/G ratio of 3.39 and a beta of 0.30. American Electric Power Company, Inc. has a 12 month low of $65.14 and a 12 month high of $104.97. The firm’s fifty day simple moving average is $89.26 and its 200 day simple moving average is $83.79. The company has a current ratio of 0.42, a quick ratio of 0.30 and a debt-to-equity ratio of 1.31.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. American Electric Power had a net margin of 12.56% and a return on equity of 10.24%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $1.46 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts predict that American Electric Power Company, Inc. will post 4.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, November 9th. This is a boost from American Electric Power’s previous quarterly dividend of $0.70. This represents a $2.96 annualized dividend and a yield of 3.32%. American Electric Power’s payout ratio is 69.81%.

About American Electric Power

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.

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

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