American Equity Investment Life (NYSE:AEL) released its quarterly earnings data on Thursday. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, missing Thomson Reuters consensus estimate of $1.05 per ($0.24), MarketWatch Earnings reports. American Equity Investment Life posted a return on equity of 5.87% and a net margin of 10.79%. In the same quarter a year earlier, the company posted EPS of $0.77.
NYSE:AEL shares traded at $3.38 during Friday’s trading, hitting $38.77. The stock had trading volume of 15,385 shares, compared to an average volume of 542,946. American Equity Investment Life has a 1-year low of $26.21 and a 1-year high of $44.49. The stock has a market capitalization of $3.59 billion, a PE ratio of 10.92 and a beta of 1.15. The company has a fifty-day moving average price of $40.50 and a 200-day moving average price of $35.40. The company has a debt ratio of 0.09, a quick ratio of 0.34 and a current ratio of 0.34.
The company also recently declared an annual dividend, which was paid on Monday, December 13. Investors of record on Monday, November 29 received a dividend of $0.34 per share. This is a boost from American Equity Investment Life’s previous annual dividend of $0.18. This represents a return of 0.97%. The ex-dividend date was Friday, November 26. American Equity Investment Life’s dividend payout ratio (DPR) is currently 9.47%.
Several equity research analysts have released reports on the stock. Jefferies Financial Group assumed coverage for American Equity Investment Life stocks in a Tuesday, Jan. 25, research note. They issued a “hold” rating and a price target of $42.00 on the stock. Raymond James raised its price target on American Equity Investment Life shares from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, Jan. 10. Royal Bank of Canada raised its price target on American Equity Investment Life shares from $41.00 to $47.00 and gave the company an “outperform” rating in a Wednesday, Jan. 12, report. JPMorgan Chase & Co. raised its price target on American Equity Investment Life shares from $37.00 to $41.00 in a research report on Tuesday, January 4. Finally, Piper Sandler upgraded American Equity Investment Life from a “neutral” rating to an “overweight” rating and raised its price target for the company from $36.00 to $46.00 in a Wednesday, January 5 report. . Five research analysts gave the stock a hold rating and six issued the company’s stock a buy rating. According to data from MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Buy” and an average target price of $41.58.
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In other news, CEO Anant Bhalla sold 10,214 shares of American Equity Investment Life in a trade on Tuesday, November 30. The shares were sold at an average price of $29.64, for a total value of $302,742.96. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Also, VPE Ronald James Grensteiner sold 10,894 shares of the company in a trade on Thursday, January 20. The shares were sold at an average price of $42.05, for a total transaction of $458,092.70. Disclosure of this sale can be found here. Insiders sold a total of 41,108 shares of the company valued at $1,582,836 in the past 90 days. Insiders hold 1.90% of the shares of the company.
Hedge funds have recently changed their positions in the business. NewEdge Advisors LLC acquired a new position in American Equity Investment Life during the fourth quarter worth $271,000. California State Teachers Retirement System increased its position in American Equity Investment Life by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 115,426 shares of the financial services provider worth $4,492,000 after acquiring 426 additional shares during the period. Parametric Portfolio Associates LLC increased its stake in American Equity Investment Life by 15.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 804,872 shares of the financial services provider valued at $31,326,000 after purchasing an additional 109,898 shares during the period. The Tennessee State Treasury Department increased its holdings of American Equity Investment Life stocks by 32.0% in the fourth quarter. The Tennessee State Treasury Department now owns 82,420 shares of the financial services provider worth $3,207,000 after purchasing an additional 19,968 shares in the last quarter. Finally, Legal & General Group Plc increased its holding in shares of American Equity Investment Life by 2.8% in the fourth quarter. Legal & General Group Plc now owns 241,529 shares of the financial services provider valued at $9,400,000 after buying an additional 6,593 shares during the period. Institutional investors hold 93.49% of the company’s shares.
American Equity Investment Life Insurance Company Profile
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 based in West Des Moines, IA.
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