American Equity Investment Life Holding (AEL) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 21.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,952 shares of the financial services provider’s stock after selling 1,672 shares during the period. Janney Montgomery Scott LLC’s holdings in American Equity Investment Life were worth $210,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new stake in shares of American Equity Investment Life in the 2nd quarter valued at $10,379,000. Swiss National Bank boosted its holdings in shares of American Equity Investment Life by 1.9% in the 2nd quarter. Swiss National Bank now owns 150,000 shares of the financial services provider’s stock valued at $5,400,000 after acquiring an additional 2,800 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of American Equity Investment Life by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 226,069 shares of the financial services provider’s stock valued at $8,115,000 after acquiring an additional 10,618 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of American Equity Investment Life by 60.8% in the 2nd quarter. United Services Automobile Association now owns 169,789 shares of the financial services provider’s stock valued at $6,112,000 after acquiring an additional 64,201 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of American Equity Investment Life by 3.0% in the 2nd quarter. Comerica Bank now owns 104,784 shares of the financial services provider’s stock valued at $3,678,000 after acquiring an additional 3,042 shares during the last quarter. 92.94% of the stock is currently owned by institutional investors.

Separately, Royal Bank of Canada set a $38.00 price objective on shares of American Equity Investment Life and gave the company a “buy” rating in a report on Wednesday, August 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Equity Investment Life has an average rating of “Buy” and an average price target of $36.17.

Shares of NYSE AEL opened at $31.28 on Thursday. American Equity Investment Life Holding has a 1 year low of $27.06 and a 1 year high of $38.56. The firm has a market cap of $2.83 billion, a P/E ratio of 9.90 and a beta of 2.49. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.99. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.77%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $600.27 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, research analysts anticipate that American Equity Investment Life Holding will post 4.34 EPS for the current year.

The company also recently declared an annual dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This is an increase from American Equity Investment Life’s previous annual dividend of $0.26. This represents a yield of 0.82%. American Equity Investment Life’s dividend payout ratio is 8.86%.

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American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national 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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