5 Best Dividend Stocks to Buy According to Sculptor Capital

1. American Electric Power Company, Inc. (NASDAQ:AEP)

Number of Hedge Fund Holders: 36
Dividend Yield as of February 4: 3.46%
Sculptor Capital’s Stake Value: $20,095,000

American Electric Power Company, Inc. (NASDAQ:AEP) is an American electric utility company that has over five million customers in 11 states across the country. This January, Morgan Stanley set a $110 price target on the stock while maintaining an Overweight rating on the shares.

In 2021, American Electric Power Company, Inc. (NASDAQ:AEP) increased its dividend by 5%, which marked the company’s consecutive 12^th year of dividend growth. Currently, the company pays a quarterly dividend of $0.78 per share, with a dividend yield of 3.46%. In Q3 2021, Sculptor Capital increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 137%, reaching over $20 million. The company represented 0.16% of the hedge fund’s 13F portfolio.

Renaissance Technologies held a stake worth roughly $190 million in American Electric Power Company, Inc. (NASDAQ:AEP), becoming the company’s largest shareholder in Q3. Overall, 36 hedge funds tracked by Insider Monkey held stakes in the company in Q3, up from 29 in the previous quarter. The consolidated value of these stakes is over $751.5 million.

You can also take a look at 15 Fastest Growing Dividend Stocks and 10 Best Material Dividend Stocks To Buy Now

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