Swiss National Bank Sells 11,600 Shares of American Equity Investment Life Holding (NYSE:AEL)

Swiss National Bank lowered its stake in American Equity Investment Life Holding (NYSE:AELGet Rating) by 5.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 185,300 shares of the financial services provider’s stock after selling 11,600 shares during the quarter. Swiss National Bank’s holdings in American Equity Investment Life were worth $6,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of American Equity Investment Life in the second quarter worth about $29,000. Covestor Ltd raised its stake in shares of American Equity Investment Life by 38.9% in the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider’s stock worth $87,000 after buying an additional 610 shares during the period. Meeder Asset Management Inc. bought a new position in shares of American Equity Investment Life in the first quarter worth about $100,000. Quantbot Technologies LP bought a new position in shares of American Equity Investment Life in the first quarter worth about $105,000. Finally, Counterpoint Mutual Funds LLC raised its stake in shares of American Equity Investment Life by 100.5% in the second quarter. Counterpoint Mutual Funds LLC now owns 3,287 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,648 shares during the period. Institutional investors own 93.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AEL shares. Piper Sandler raised their price objective on American Equity Investment Life from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 7th. StockNews.com started coverage on American Equity Investment Life in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley lifted their target price on American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Evercore ISI decreased their target price on American Equity Investment Life to $38.00 in a research note on Tuesday, November 15th. Finally, Raymond James lifted their target price on American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.30.

American Equity Investment Life Stock Performance

NYSE AEL opened at $39.53 on Wednesday. The stock has a market capitalization of $3.39 billion, a PE ratio of 2.89 and a beta of 1.02. The business has a 50 day simple moving average of $38.73 and a two-hundred day simple moving average of $38.07. 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 1-year low of $28.05 and a 1-year high of $44.49.

American Equity Investment Life Cuts Dividend

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

About American Equity Investment Life

(Get Rating)

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.

Further Reading

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

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