Oregon Public Employees Retirement Fund Has $881,000 Holdings in American Equity Investment Life Holding (NYSE:AEL)
Oregon Public Employees Retirement Fund lessened its stake in American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,638 shares of the financial services provider’s stock after selling 2,357 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in American Equity Investment Life were worth $881,000 at the end of the most recent reporting period.
→ The Next Big Crisis Is Here (From Porter & Company)
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of American Equity Investment Life by 758.7% in the second quarter. Meeder Asset Management Inc. now owns 21,503 shares of the financial services provider’s stock worth $785,000 after purchasing an additional 18,999 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of American Equity Investment Life in the second quarter worth $385,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of American Equity Investment Life in the second quarter worth $449,000. Jennison Associates LLC bought a new stake in shares of American Equity Investment Life in the second quarter worth $728,000. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of American Equity Investment Life in the second quarter worth $203,000. Institutional investors and hedge funds own 94.03% of the company’s stock.
American Equity Investment Life Price Performance
Shares of AEL opened at $46.02 on Wednesday. The firm has a market capitalization of $3.94 billion, a PE ratio of 3.36 and a beta of 0.91. The company’s 50-day moving average is $42.88 and its 200-day moving average is $39.87. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $47.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.17 and a quick ratio of 0.17.
American Equity Investment Life (NYSE:AEL – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts forecast that American Equity Investment Life Holding will post 3.87 EPS for the current year.
American Equity Investment Life Cuts Dividend
The firm 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 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
A number of brokerages have recently commented on AEL. Morgan Stanley boosted their price objective on shares of American Equity Investment Life from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. Royal Bank of Canada dropped 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 report on Wednesday, November 9th. Piper Sandler upped their price target on shares of American Equity Investment Life from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. JPMorgan Chase & Co. upped 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. Finally, Evercore ISI upped their price target 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. 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, the company has a consensus rating of “Hold” and a consensus target price of $44.60.
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.
Read More
Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider American Equity Investment Life, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and American Equity Investment Life wasn’t on the list.
While American Equity Investment Life currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
