US Bancorp DE Has $722,000 Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

US Bancorp DE lessened its stake in shares of American Equity Investment Life Holding (NYSE:AELGet Rating) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,363 shares of the financial services provider’s stock after selling 597 shares during the quarter. US Bancorp DE’s holdings in American Equity Investment Life were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AEL. BlackRock Inc. increased its position in American Equity Investment Life by 0.4% during the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after acquiring an additional 49,702 shares during the period. Macquarie Group Ltd. increased its position in American Equity Investment Life by 1.7% during the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock worth $192,109,000 after acquiring an additional 85,531 shares during the period. State Street Corp increased its position in American Equity Investment Life by 4.7% during the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock worth $127,313,000 after acquiring an additional 142,611 shares during the period. Clearbridge Investments LLC increased its position in American Equity Investment Life by 0.3% during the second quarter. Clearbridge Investments LLC now owns 2,822,498 shares of the financial services provider’s stock worth $103,219,000 after acquiring an additional 7,434 shares during the period. Finally, Invesco Ltd. increased its position in American Equity Investment Life by 12.0% during the first quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock worth $73,278,000 after acquiring an additional 196,589 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.

American Equity Investment Life Trading Up 2.6 %

Shares of American Equity Investment Life stock opened at $45.76 on Friday. The firm has a market capitalization of $3.92 billion, a PE ratio of 3.34 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $42.49 and its 200 day moving average is $39.69. American Equity Investment Life Holding has a 1 year low of $28.05 and a 1 year high of $47.30.

American Equity Investment Life (NYSE:AELGet Rating) last posted its earnings results on Monday, November 7th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.84 by $0.15. American Equity Investment Life had a net margin of 71.25% and a return on equity of 8.81%. The business had revenue of $609.74 million for the quarter, compared to the consensus estimate of $585.04 million. Equities research analysts forecast that American Equity Investment Life Holding will post 3.87 earnings per share for the current fiscal year.

American Equity Investment Life Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, December 13th. Investors of record on Monday, November 28th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, November 25th. This represents a yield of 0.05%. American Equity Investment Life’s dividend payout ratio is presently 0.15%.

Analyst Ratings Changes

A number of research firms recently commented on AEL. JPMorgan Chase & Co. raised their price target on shares of American Equity Investment Life from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Royal Bank of Canada decreased their target price on shares of American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Piper Sandler raised their target price on shares of American Equity Investment Life from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. Morgan Stanley raised their target price on shares of American Equity Investment Life from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. Finally, Evercore ISI raised their target price on shares of American Equity Investment Life from $38.00 to $43.00 and gave the company an “in-line” rating in a report on Wednesday, December 21st. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.60.

About American Equity Investment Life

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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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