American Equity Investment Life Holding (NYSE:AEL) Increases Dividend to $0.32 Per Share
American Equity Investment Life Holding (NYSE:AEL) declared an annual dividend on Tuesday, November 17th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Tuesday, November 24th. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.30.
American Equity Investment Life has raised its dividend payment 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 dividend payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Equities 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%.
American Equity Investment Life stock opened at $27.20 on Friday. American Equity Investment Life has a 52 week low of $9.07 and a 52 week high of $34.25. The stock has a fifty day moving average of $27.79 and a 200-day moving average of $24.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $2.50 billion, a P/E ratio of 2.90 and a beta of 1.58.
AEL has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of American Equity Investment Life from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley lifted their price objective on shares of American Equity Investment Life from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, August 20th. Royal Bank of Canada reduced their price objective on shares of American Equity Investment Life from $36.00 to $31.00 in a research note on Wednesday, November 4th. B. Riley lifted their price objective on shares of American Equity Investment Life from $23.00 to $30.00 in a research note on Friday, October 9th. Finally, Zacks Investment Research lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research report on Wednesday, October 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.00.
In related news, Director David S. Mulcahy bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average cost of $19.57 per share, for a total transaction of $195,700.00. Following the completion of the transaction, the director now owns 118,439 shares of the company’s stock, valued at $2,317,851.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.99% of the stock is currently owned by insiders.
About American Equity Investment Life
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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