American Equity Investment Life Holding (AEL) Position Trimmed by FDx Advisors Inc.

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FDx Advisors Inc. decreased its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 32.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,534 shares of the financial services provider’s stock after selling 3,680 shares during the quarter. FDx Advisors Inc.’s holdings in American Equity Investment Life were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AEL. 6 Meridian bought a new position in American Equity Investment Life during the 2nd quarter worth approximately $206,000. Raymond James Financial Services Advisors Inc. bought a new position in American Equity Investment Life during the 2nd quarter worth approximately $209,000. Sawtooth Solutions LLC bought a new position in American Equity Investment Life in the second quarter valued at approximately $238,000. Commonwealth Bank of Australia bought a new position in American Equity Investment Life in the third quarter valued at approximately $272,000. Finally, WINTON GROUP Ltd bought a new position in American Equity Investment Life in the third quarter valued at approximately $290,000. 92.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of AEL opened at $30.72 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11. American Equity Investment Life Holding has a twelve month low of $27.06 and a twelve month high of $38.56. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 8.59 and a beta of 2.49.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.99. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.77%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $600.27 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Analysts anticipate that American Equity Investment Life Holding will post 3.68 earnings per share for the current year.

The business also recently declared an annual dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 28th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, November 27th. This represents a yield of 0.82%. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.26. American Equity Investment Life’s payout ratio is presently 8.86%.

Separately, ValuEngine lowered shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.40.

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American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national 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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