American Equity Investment Life (NYSE:AEL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of American Equity Investment Life (NYSE:AELFree Report) in a report released on Saturday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods increased their price target on shares of American Equity Investment Life from $55.00 to $56.00 and gave the stock a market perform rating in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $55.33.

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American Equity Investment Life Price Performance

NYSE AEL opened at $56.47 on Friday. The company has a market cap of $4.49 billion, a PE ratio of 26.39 and a beta of 0.78. American Equity Investment Life has a 52 week low of $37.54 and a 52 week high of $57.29. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $56.09 and its two-hundred day simple moving average is $55.55.

American Equity Investment Life Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 15th were given a dividend of $0.38 per share. This is a boost from American Equity Investment Life’s previous annual dividend of $0.02. This represents a yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. American Equity Investment Life’s dividend payout ratio (DPR) is presently 17.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AEL. Vanguard Group Inc. increased its position in American Equity Investment Life by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 8,636,001 shares of the financial services provider’s stock valued at $481,889,000 after purchasing an additional 345,911 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of American Equity Investment Life by 8.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,811,874 shares of the financial services provider’s stock valued at $101,103,000 after buying an additional 142,611 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in shares of American Equity Investment Life by 78.6% during the 4th quarter. Alpine Associates Management Inc. now owns 1,698,700 shares of the financial services provider’s stock valued at $94,787,000 after buying an additional 747,700 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in American Equity Investment Life by 5,296.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider’s stock worth $89,539,000 after purchasing an additional 1,638,328 shares in the last quarter. Finally, Soros Fund Management LLC bought a new position in American Equity Investment Life in the 3rd quarter worth about $71,649,000. Institutional investors own 94.98% of the company’s stock.

About American Equity Investment Life

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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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