Indiana Trust & Investment Management Co Sells 666 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Indiana Trust & Investment Management Co decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,601 shares of the company’s stock after selling 666 shares during the period. Indiana Trust & Investment Management Co’s holdings in American Electric Power were worth $424,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AEP. DAVENPORT & Co LLC increased its position in shares of American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after acquiring an additional 3,288 shares during the last quarter. Secure Asset Management LLC grew its stake in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after purchasing an additional 4,370 shares during the period. Grove Bank & Trust increased its position in shares of American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc bought a new stake in shares of American Electric Power during the 4th quarter worth $419,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Morgan Stanley decreased their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company lowered their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Evercore ISI lowered their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

Shares of AEP opened at $101.88 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock has a market capitalization of $54.21 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 52-week low of $76.31 and a 52-week high of $105.18. The stock’s 50-day simple moving average is $95.16 and its 200 day simple moving average is $97.83.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.65%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

American Electric Power Company 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.