SG Americas Securities LLC Decreases Stake in American Equity Investment Life Holding (NYSE:AEL)

SG Americas Securities LLC cut its holdings in American Equity Investment Life Holding (NYSE:AELGet Rating) by 46.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,957 shares of the financial services provider’s stock after selling 14,018 shares during the quarter. SG Americas Securities LLC’s holdings in American Equity Investment Life were worth $595,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of American Equity Investment Life in the second quarter valued at approximately $29,000. CoreCap Advisors LLC purchased a new stake in shares of American Equity Investment Life in the second quarter valued at approximately $38,000. Exchange Traded Concepts LLC boosted its stake in shares of American Equity Investment Life by 114.4% in the third quarter. Exchange Traded Concepts LLC now owns 1,158 shares of the financial services provider’s stock valued at $43,000 after buying an additional 618 shares in the last quarter. Castleview Partners LLC boosted its stake in shares of American Equity Investment Life by 282.0% in the second quarter. Castleview Partners LLC now owns 382 shares of the financial services provider’s stock valued at $53,000 after buying an additional 282 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $71,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AEL. Piper Sandler boosted their target price on American Equity Investment Life from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. JPMorgan Chase & Co. boosted their target price on American Equity Investment Life from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Raymond James upgraded 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 research report on Monday, December 19th. StockNews.com began coverage on American Equity Investment Life in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada decreased their target price on American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Seven 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’s stock. Based on data from MarketBeat.com, American Equity Investment Life has an average rating of “Hold” and a consensus price target of $44.60.

American Equity Investment Life Stock Performance

NYSE AEL opened at $45.76 on Monday. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $47.30. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 3.34 and a beta of 0.91. The business has a fifty day moving average of $42.49 and a 200-day moving average of $39.74. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.27.

American Equity Investment Life (NYSE:AELGet Rating) last released its earnings results on Monday, November 7th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.84 by $0.15. The firm had revenue of $609.74 million during the quarter, compared to analyst estimates of $585.04 million. American Equity Investment Life had a return on equity of 8.81% and a net margin of 71.25%. As a group, 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 firm also recently announced an annual dividend, which was paid on Tuesday, December 13th. Investors of record on Monday, November 28th were paid a $0.02 dividend. The ex-dividend date was Friday, November 25th. This represents a yield of 0.05%. American Equity Investment Life’s payout ratio is currently 0.15%.

American Equity Investment Life Profile

(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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