Congress Wealth Management LLC DE Invests $675,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Congress Wealth Management LLC DE purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,322 shares of the company’s stock, valued at approximately $675,000.

A number of other large investors also recently bought and sold shares of AEP. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 763,813 shares in the last quarter. State Street Corp lifted its stake in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after buying an additional 352,588 shares during the last quarter. FMR LLC increased its stake in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of American Electric Power by 2.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock valued at $427,009,000 after acquiring an additional 100,578 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Morgan Stanley boosted their price target on shares of American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Bank of America boosted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $100.77.

American Electric Power Stock Up 1.7 %

NASDAQ:AEP opened at $106.96 on Friday. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52. The stock’s fifty day moving average is $102.78 and its two-hundred day moving average is $99.15. The stock has a market capitalization of $57.08 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter last year, the business posted $1.23 EPS. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is currently 66.43%.

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.