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River Road Asset Management LLC Cuts Stake in American Equity Investment Life Holding (NYSE:AEL)

River Road Asset Management LLC lowered its position in shares of American Equity Investment Life Holding (NYSE:AELGet Rating) by 24.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,981,932 shares of the financial services provider’s stock after selling 941,081 shares during the quarter. American Equity Investment Life accounts for 1.7% of River Road Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. River Road Asset Management LLC owned 3.40% of American Equity Investment Life worth $111,196,000 at the end of the most recent reporting period.

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Other large investors also recently bought and sold shares of the company. Castleview Partners LLC increased its holdings in shares of American Equity Investment Life by 282.0% in the 2nd quarter. Castleview Partners LLC now owns 382 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 282 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of American Equity Investment Life by 0.8% in the 2nd quarter. Congress Asset Management Co. MA now owns 43,859 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 330 shares in the last quarter. Covestor Ltd increased its holdings in shares of American Equity Investment Life by 38.9% in the 1st quarter. Covestor Ltd now owns 2,180 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 610 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of American Equity Investment Life by 11.7% in the 2nd quarter. Mackenzie Financial Corp now owns 5,836 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 612 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of American Equity Investment Life by 114.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,158 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

American Equity Investment Life Stock Up 0.2 %

Shares of AEL traded up $0.08 during mid-day trading on Monday, reaching $45.84. 25,784 shares of the stock traded hands, compared to its average volume of 482,013. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 3.34 and a beta of 0.91. The stock has a fifty day simple moving average of $42.49 and a 200 day simple moving average of $39.74. American Equity Investment Life Holding has a 12-month low of $28.05 and a 12-month high of $47.30. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.27.

American Equity Investment Life (NYSE:AELGet Rating) last posted its quarterly earnings data on Monday, November 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. The company had revenue of $609.74 million for the quarter, compared to analyst estimates of $585.04 million. American Equity Investment Life had a net margin of 71.25% and a return on equity of 8.81%. Sell-side analysts expect that American Equity Investment Life Holding will post 3.87 EPS for the current fiscal year.

American Equity Investment Life Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Evercore ISI raised their target price on shares of American Equity Investment Life from $38.00 to $43.00 and gave the stock an “in-line” rating in a research report on Wednesday, December 21st. StockNews.com began coverage on shares of American Equity Investment Life in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James upgraded shares of American Equity Investment Life from an “outperform” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a report on Monday, December 19th. Finally, Piper Sandler raised their price target 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. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.60.

American Equity Investment Life Profile

(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.

Further Reading

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

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