American Equity Investment Life Holding (NYSE:AEL) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 82.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,423 shares of the financial services provider’s stock after selling 84,753 shares during the period. Raymond James & Associates’ holdings in American Equity Investment Life were worth $1,028,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AEL. The Manufacturers Life Insurance Company grew its stake in shares of American Equity Investment Life by 5,296.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider’s stock valued at $89,539,000 after acquiring an additional 1,638,328 shares in the last quarter. Soros Fund Management LLC purchased a new stake in American Equity Investment Life during the 3rd quarter worth approximately $71,649,000. Alpine Associates Management Inc. acquired a new position in shares of American Equity Investment Life in the 3rd quarter valued at approximately $51,012,000. Norges Bank purchased a new position in shares of American Equity Investment Life during the 4th quarter valued at approximately $35,057,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of American Equity Investment Life during the 3rd quarter valued at approximately $26,850,000. 94.98% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Stock Performance

AEL stock opened at $55.40 on Monday. The stock’s 50 day simple moving average is $55.71 and its 200 day simple moving average is $55.10. American Equity Investment Life Holding has a 12-month low of $36.69 and a 12-month high of $56.40. The firm has a market cap of $4.40 billion, a P/E ratio of 25.89 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.28.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.24. American Equity Investment Life had a net margin of 7.42% and a return on equity of 25.15%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $673.53 million. During the same period in the prior year, the company earned $1.64 earnings per share. The firm’s revenue was up 61.7% compared to the same quarter last year. As a group, equities research analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current year.

American Equity Investment Life Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be paid a dividend of $0.38 per share. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. The ex-dividend date of this dividend is Friday, April 12th. This represents a yield of 0.68%. American Equity Investment Life’s dividend payout ratio is 17.76%.

Wall Street Analyst Weigh In

AEL has been the topic of several recent analyst reports. StockNews.com began coverage on shares of American Equity Investment Life in a report on Monday, March 11th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their target price on shares of American Equity Investment Life from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.50.

American Equity Investment Life Profile

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.