State of Alaska Department of Revenue Purchases 628 Shares of American Equity Investment Life Holding (NYSE:AEL)

State of Alaska Department of Revenue grew its stake in American Equity Investment Life Holding (NYSE:AEL) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 60,060 shares of the financial services provider’s stock after buying an additional 628 shares during the period. State of Alaska Department of Revenue’s holdings in American Equity Investment Life were worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of AEL. First Trust Advisors LP grew its position in American Equity Investment Life by 35.4% in the 1st quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider’s stock worth $2,520,000 after purchasing an additional 24,396 shares during the last quarter. Ameritas Investment Company LLC acquired a new stake in American Equity Investment Life in the 1st quarter worth $30,000. Man Group plc acquired a new stake in American Equity Investment Life in the 1st quarter worth $2,328,000. Glenmede Trust Co. NA acquired a new stake in American Equity Investment Life in the 1st quarter worth $32,000. Finally, Voloridge Investment Management LLC acquired a new stake in American Equity Investment Life in the 1st quarter worth $794,000. Institutional investors own 90.64% of the company’s stock.

Several research firms have issued reports on AEL. Morgan Stanley raised their price target on shares of American Equity Investment Life from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 14th. Truist lifted their target price on shares of American Equity Investment Life from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 11th. Royal Bank of Canada lifted their target price on shares of American Equity Investment Life from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Raymond James lifted their target price on shares of American Equity Investment Life from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, November 18th. Finally, Truist Securities lifted their target price on shares of American Equity Investment Life from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $38.30.

NYSE:AEL opened at $36.38 on Thursday. The firm has a market cap of $3.37 billion, a PE ratio of 10.13 and a beta of 1.23. American Equity Investment Life Holding has a 12 month low of $26.02 and a 12 month high of $38.43. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $32.67 and its two-hundred day moving average price is $32.00.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Monday, November 8th. The financial services provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.70. The firm had revenue of $542.56 million for the quarter, compared to analyst estimates of $578.71 million. American Equity Investment Life had a net margin of 10.79% and a return on equity of 5.87%. The company’s revenue for the quarter was down 32.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. On average, research analysts expect that American Equity Investment Life Holding will post 3.73 EPS for the current fiscal year.

The company also recently declared an annual dividend, which will be paid on Monday, December 13th. Shareholders of record on Monday, November 29th will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 26th. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.18. This represents a yield of 0.97%. American Equity Investment Life’s payout ratio is 8.91%.

About American Equity Investment Life

American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.

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

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