Raymond James & Associates Cuts Stock Position in American Equity Investment Life Holding (NYSE:AEL)

Raymond James & Associates lessened its stake in American Equity Investment Life Holding (NYSE:AEL - Free Report) by 82.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,423 shares of the financial services provider's stock after selling 84,753 shares during the quarter. Raymond James & Associates' holdings in American Equity Investment Life were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in American Equity Investment Life in the 3rd quarter valued at approximately $30,000. Pathstone Family Office LLC purchased a new position in American Equity Investment Life in the 3rd quarter valued at approximately $230,000. Lido Advisors LLC purchased a new position in American Equity Investment Life in the 3rd quarter valued at approximately $249,000. AlphaMark Advisors LLC purchased a new position in American Equity Investment Life in the 3rd quarter valued at approximately $267,000. Finally, Paulson Wealth Management Inc. grew its stake in American Equity Investment Life by 10.8% in the 3rd quarter. Paulson Wealth Management Inc. now owns 5,650 shares of the financial services provider's stock valued at $303,000 after buying an additional 551 shares in the last quarter. Institutional investors own 94.98% of the company's stock.

American Equity Investment Life Price Performance

NYSE:AEL traded up $0.47 during midday trading on Monday, hitting $55.87. The company had a trading volume of 853,095 shares, compared to its average volume of 541,010. American Equity Investment Life Holding has a 52-week low of $36.69 and a 52-week high of $56.40. The stock's fifty day moving average price is $55.72 and its 200-day moving average price is $55.11. The company has a market capitalization of $4.44 billion, a PE ratio of 26.11 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28.

American Equity Investment Life (NYSE:AEL - Get Free Report) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $673.53 million. During the same period in the previous year, the business earned $1.64 earnings per share. The firm's quarterly revenue was up 61.7% compared to the same quarter last year. As a group, research analysts expect that American Equity Investment Life Holding will post 7.11 earnings per share for the current year.

American Equity Investment Life Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from American Equity Investment Life's previous annual dividend of $0.02. This represents a yield of 0.68%. American Equity Investment Life's payout ratio is currently 17.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of American Equity Investment Life in a research report on Monday, March 11th. They set a "hold" rating for the company. Keefe, Bruyette & Woods boosted their price target on shares of American Equity Investment Life from $55.00 to $56.00 and gave the company a "market perform" rating in a research report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, American Equity Investment Life has a consensus rating of "Hold" and a consensus target price of $52.50.

About American Equity Investment Life

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.