Prudential Financial Inc. decreased its stake in American Equity Investment Life Holding (NYSE:AEL – Get Rating ) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,439 shares of the financial services provider’s stock after selling 5,075 shares during the quarter. Prudential Financial Inc. owned about 0.17% of American Equity Investment Life worth $5,609,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in American Equity Investment Life by 135.2% during the third quarter. Teacher Retirement System of Texas now owns 30,917 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 17,771 shares during the period. Royce & Associates LP raised its position in American Equity Investment Life by 14.0% during the third quarter. Royce & Associates LP now owns 19,898 shares of the financial services provider’s stock valued at $742,000 after acquiring an additional 2,450 shares during the last quarter. Victory Capital Management Inc. raised its position in American Equity Investment Life by 5.4% during the third quarter. Victory Capital Management Inc. now owns 29,859 shares of the financial services provider’s stock valued at $1,113,000 after acquiring an additional 1,519 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in American Equity Investment Life in the third quarter worth about $2,970,000. Finally, Jennison Associates LLC raised its position in American Equity Investment Life by 52.4% during the third quarter. Jennison Associates LLC now owns 30,320 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 10,424 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s shares.
Analysts set new price targets
AEL has been the subject of several research reports. Morgan Stanley upped their target price on shares of American Equity Investment Life from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. StockNews.com initiated coverage on American Equity Investment Life in a report on Wednesday, October 12th. They assign a “hold” rating to the stock. Piper Sandler boosted their price objective on American Equity Investment Life from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, December 20th. Evercore ISI boosted their price objective on American Equity Investment Life from $38.00 to $43.00 and gave the stock an “in-line” rating in a report on Wednesday, December 21st. Finally, Raymond James raised American Equity Investment Life from an “outperform” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Monday, December 19th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.89, based on data from MarketBeat.com.
American Equity Investment Life Trading up 0.2%
NYSE:AEL opened at $47.74 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.17, and a quick ratio of 0.17. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $48.21. The stock’s 50-day moving average is $43.92, and its two-hundred-day moving average is $40.34. The stock has a market cap of $4.09 billion, a PE ratio of 3.48 and a beta of 0.91.
American Equity Investment Life (NYSE:AEL – Get Rating) last posted its earnings results on Monday, November 7. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. American Equity Investment Life has a return on equity of 8.81% and a net margin of 71.25%. The company had revenue of $609.74 million for the quarter, compared to analysts’ expectations of $585.04 million. As a group, equities research analysts predict that American Equity Investment Life Holding will post 3.87 earnings per share for the current fiscal year.
American Equity Investment Life Cuts Dividend
The company also recently declared an annual dividend, which was paid on Tuesday, December 13th. Investors of record on Monday, November 28th were given a $0.02 dividend. The ex-dividend date was Friday, November 25th. This represents a dividend yield of 0.05%. American Equity Investment Life’s payout ratio is 0.15%.
American Equity Investment Life Company Profile
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American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
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