American Equity Investment Life Holding (NYSE:AEL) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its position in American Equity Investment Life Holding (NYSE:AEL) by 82.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,423 shares of the financial services provider’s stock after selling 84,753 shares during the quarter. Raymond James & Associates’ holdings in American Equity Investment Life were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Profit Investment Management LLC grew its stake in shares of American Equity Investment Life by 5.9% during the fourth quarter. Profit Investment Management LLC now owns 88,544 shares of the financial services provider’s stock worth $4,941,000 after purchasing an additional 4,972 shares in the last quarter. Mutual Advisors LLC acquired a new position in shares of American Equity Investment Life during the 4th quarter worth about $383,000. American Century Companies Inc. increased its holdings in shares of American Equity Investment Life by 48.2% in the 3rd quarter. American Century Companies Inc. now owns 708,859 shares of the financial services provider’s stock valued at $38,023,000 after acquiring an additional 230,465 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of American Equity Investment Life by 15.1% in the 3rd quarter. Deutsche Bank AG now owns 39,427 shares of the financial services provider’s stock valued at $2,115,000 after acquiring an additional 5,173 shares during the last quarter. Finally, Comerica Bank raised its position in shares of American Equity Investment Life by 422.8% during the 3rd quarter. Comerica Bank now owns 35,443 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 28,664 shares in the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

American Equity Investment Life Trading Up 0.5 %

AEL opened at $55.40 on Monday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 25.89 and a beta of 0.80. American Equity Investment Life Holding has a 52 week low of $36.69 and a 52 week high of $56.40. The business’s 50 day moving average is $55.71 and its two-hundred day moving average is $55.10. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.75 by $0.24. American Equity Investment Life had a net margin of 7.42% and a return on equity of 25.15%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $673.53 million. During the same quarter in the prior year, the firm earned $1.64 EPS. American Equity Investment Life’s revenue for the quarter was up 61.7% on a year-over-year basis. On average, research analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current year.

American Equity Investment Life Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, April 12th. This represents a dividend yield of 0.68%. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. American Equity Investment Life’s dividend payout ratio (DPR) is currently 17.76%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AEL. StockNews.com began coverage on shares of American Equity Investment Life in a research note on Monday, March 11th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods increased their target price on shares of American Equity Investment Life from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Five analysts have rated the stock with a hold rating, According to MarketBeat, American Equity Investment Life currently has a consensus rating of “Hold” and an average price target of $52.50.

About American Equity Investment Life

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.