American Equity Investment Life Holding (NYSE:AEL) declared an annual dividend on Tuesday, November 17th, Wall Street Journal reports. Investors of record on Wednesday, November 25th will be given a dividend of 0.32 per share by the financial services provider on Thursday, December 10th. This represents a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 24th. This is a boost from American Equity Investment Life’s previous annual dividend of $0.30.

American Equity Investment Life has raised its dividend by 25.0% over the last three years and has increased its dividend every year for the last 1 years. American Equity Investment Life has a payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect American Equity Investment Life to earn $4.43 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.2%.

Shares of AEL stock opened at $27.20 on Friday. The stock’s 50-day moving average is $27.79 and its two-hundred day moving average is $24.20. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 2.90 and a beta of 1.58. American Equity Investment Life has a 1 year low of $9.07 and a 1 year high of $34.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.13 and a current ratio of 0.13.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.04). The business had revenue of $798.70 million during the quarter, compared to the consensus estimate of $611.44 million. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 earnings per share. As a group, research analysts predict that American Equity Investment Life will post 4.73 EPS for the current year.

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on American Equity Investment Life from $36.00 to $31.00 in a report on Wednesday, November 4th. Raymond James downgraded shares of American Equity Investment Life from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 19th. Piper Sandler increased their target price on shares of American Equity Investment Life from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley increased their target price on shares of American Equity Investment Life from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 20th. Finally, Zacks Investment Research downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research note on Wednesday, October 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. American Equity Investment Life presently has an average rating of “Hold” and a consensus price target of $29.00.

In other news, Director David S. Mulcahy acquired 10,000 shares of American Equity Investment Life stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average price of $19.57 per share, for a total transaction of $195,700.00. Following the completion of the transaction, the director now directly owns 118,439 shares in the company, valued at $2,317,851.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.99% of the stock is owned by company insiders.

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. It markets its products through independent agents, including national 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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