Envestnet Asset Management Inc. Has $1.38 Million Position in American Equity Investment Life Holding (NYSE:AEL)

Envestnet Asset Management Inc. increased its position in American Equity Investment Life Holding (NYSE:AELGet Rating) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,843 shares of the financial services provider’s stock after buying an additional 664 shares during the period. Envestnet Asset Management Inc.’s holdings in American Equity Investment Life were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in American Equity Investment Life by 38.9% during the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 610 shares during the period. Meeder Asset Management Inc. bought a new stake in American Equity Investment Life during the first quarter worth approximately $100,000. Quantbot Technologies LP bought a new stake in American Equity Investment Life during the first quarter worth approximately $105,000. Counterpoint Mutual Funds LLC boosted its position in American Equity Investment Life by 100.5% during the second quarter. Counterpoint Mutual Funds LLC now owns 3,287 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,648 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in American Equity Investment Life during the first quarter worth approximately $208,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AEL shares. Truist Financial upped their target price on American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Piper Sandler increased their price objective on American Equity Investment Life from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, October 7th. Evercore ISI reduced their price objective on American Equity Investment Life to $38.00 in a research report on Tuesday, November 15th. StockNews.com started coverage on American Equity Investment Life in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James increased their price objective on American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, American Equity Investment Life currently has a consensus rating of “Hold” and a consensus price target of $43.30.

American Equity Investment Life Stock Up 3.4 %

Shares of NYSE AEL opened at $39.18 on Tuesday. The stock has a market cap of $3.36 billion, a PE ratio of 2.86 and a beta of 1.02. The business has a fifty day moving average of $38.69 and a two-hundred day moving average of $38.04. American Equity Investment Life Holding has a 52-week low of $28.05 and a 52-week high of $44.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.17 and a current ratio of 0.17.

American Equity Investment Life Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.02 per share. This represents a dividend yield of 0.05%. The ex-dividend date is Friday, November 25th. American Equity Investment Life’s payout ratio is 2.48%.

American Equity Investment Life Company Profile

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American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.

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Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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