United Community Bank Sells 11,071 Shares of American Electric Power Company, Inc. $AEP

United Community Bank lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 55.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,959 shares of the company’s stock after selling 11,071 shares during the quarter. United Community Bank’s holdings in American Electric Power were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC boosted its stake in American Electric Power by 0.3% during the third quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock valued at $2,793,000 after buying an additional 83 shares during the last quarter. Strategic Advisors LLC raised its holdings in shares of American Electric Power by 0.3% during the 3rd quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock worth $2,993,000 after acquiring an additional 87 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after acquiring an additional 89 shares in the last quarter. Gilbert & Cook Inc. boosted its position in shares of American Electric Power by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after acquiring an additional 91 shares during the last quarter. Finally, Eagle Strategies LLC grew its holdings in shares of American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP stock opened at $119.78 on Monday. The stock has a market cap of $63.97 billion, a PE ratio of 17.46, a P/E/G ratio of 2.86 and a beta of 0.62. American Electric Power Company, Inc. has a 12 month low of $97.32 and a 12 month high of $124.80. The company has a 50-day moving average price of $117.25 and a 200 day moving average price of $115.09. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. American Electric Power’s dividend payout ratio is currently 55.39%.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director directly owned 25,898 shares in the company, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of a number of recent research reports. Scotiabank upped their price target on shares of American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 16th. Morgan Stanley restated an “overweight” rating and issued a $125.00 target price on shares of American Electric Power in a report on Wednesday, January 21st. UBS Group decreased their target price on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a research report on Wednesday, December 17th. BMO Capital Markets lifted their price target on American Electric Power from $123.00 to $125.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company boosted their price objective on American Electric Power from $139.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.