American Equity Investment Life Holding (NYSE:AEL) Announces Annual Dividend of $0.02

American Equity Investment Life Holding (NYSE:AELGet Rating) announced an annual dividend on Thursday, November 17th, Zacks reports. Shareholders of record on Monday, November 28th will be given a dividend of 0.02 per share by the financial services provider on Tuesday, December 13th. This represents a yield of 0.05%. The ex-dividend date of this dividend is Friday, November 25th.

American Equity Investment Life has increased its dividend by an average of 6.7% annually over the last three years and has increased its dividend every year for the last 17 years. American Equity Investment Life has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Analysts expect American Equity Investment Life to earn $5.08 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 6.7%.

American Equity Investment Life Stock Down 0.4 %

AEL stock opened at $39.39 on Thursday. The firm’s fifty day simple moving average is $38.78 and its 200-day simple moving average is $38.08. The company has a market capitalization of $3.38 billion, a P/E ratio of 2.88 and a beta of 1.02. 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 has a 12 month low of $28.05 and a 12 month high of $44.49.

Wall Street Analyst Weigh In

Several research firms have recently commented on AEL. Piper Sandler upped their price objective on shares of American Equity Investment Life from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 7th. Truist Financial upped their price objective on shares of American Equity Investment Life from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Morgan Stanley upped their price objective on shares of American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Royal Bank of Canada dropped their price objective on shares of American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Finally, Evercore ISI decreased their target price on shares of American Equity Investment Life to $38.00 in a research note on Tuesday, November 15th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.30.

Hedge Funds Weigh In On American Equity Investment Life

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in American Equity Investment Life by 0.4% during the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after acquiring an additional 49,702 shares during the period. Macquarie Group Ltd. raised its position in American Equity Investment Life by 1.7% during the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock worth $192,109,000 after acquiring an additional 85,531 shares during the period. State Street Corp grew its holdings in shares of American Equity Investment Life by 4.7% during the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock worth $127,313,000 after buying an additional 142,611 shares in the last quarter. Invesco Ltd. grew its holdings in shares of American Equity Investment Life by 12.0% during the first quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock worth $73,278,000 after buying an additional 196,589 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of American Equity Investment Life by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,085,168 shares of the financial services provider’s stock worth $43,309,000 after buying an additional 53,056 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

American Equity Investment Life Company 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.

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Dividend History for American Equity Investment Life (NYSE:AEL)

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