Cibc World Market Inc. Takes Position in American Equity Investment Life Holding (NYSE:AEL)

Cibc World Market Inc. bought a new stake in American Equity Investment Life Holding (NYSE:AELGet Rating) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,500 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WINTON GROUP Ltd increased its stake in American Equity Investment Life by 22.3% in the second quarter. WINTON GROUP Ltd now owns 51,672 shares of the financial services provider’s stock valued at $1,890,000 after purchasing an additional 9,409 shares during the period. Lazard Asset Management LLC acquired a new position in American Equity Investment Life in the 2nd quarter valued at about $29,000. Meeder Asset Management Inc. raised its stake in American Equity Investment Life by 758.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 21,503 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 18,999 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in American Equity Investment Life during the 2nd quarter valued at approximately $449,000. Finally, Los Angeles Capital Management LLC acquired a new stake in American Equity Investment Life during the 2nd quarter worth approximately $385,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

AEL has been the subject of several analyst reports. Royal Bank of Canada cut their price target on American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Morgan Stanley lifted their target price on shares of American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Truist Financial boosted their price target on shares of American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Evercore ISI reduced their price objective on shares of American Equity Investment Life to $38.00 in a research report on Tuesday, November 15th. Finally, Raymond James boosted their target price on American Equity Investment Life from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.30.

American Equity Investment Life Price Performance

AEL stock opened at $39.39 on Friday. The firm has a 50 day moving average of $38.82 and a 200-day moving average of $38.09. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 2.88 and a beta of 1.02. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.27. American Equity Investment Life Holding has a 12-month low of $28.05 and a 12-month high of $44.49.

American Equity Investment Life Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, November 25th. This represents a yield of 0.05%. American Equity Investment Life’s dividend payout ratio is presently 2.48%.

About American Equity Investment Life

(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.

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

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