Bank of New York Mellon Corp reduced its holdings in American Equity Investment Life Holding Company (NYSE:AEL) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,421,208 shares of the financial services provider’s stock after selling 77,394 shares during the quarter. Bank of New York Mellon Corp owned 1.60% of American Equity Investment Life worth $41,329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of American Equity Investment Life by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 414 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of American Equity Investment Life by 79.5% in the second quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 2,226 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of American Equity Investment Life in the second quarter worth approximately $174,000. Teacher Retirement System of Texas purchased a new position in shares of American Equity Investment Life in the third quarter worth approximately $203,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of American Equity Investment Life in the second quarter worth approximately $203,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Several research firms have recently weighed in on AEL. B. Riley reissued a “neutral” rating on shares of American Equity Investment Life in a research report on Monday, November 6th. BidaskClub raised shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. ValuEngine downgraded shares of American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $30.00 target price on shares of American Equity Investment Life in a research report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $28.00 target price on shares of American Equity Investment Life in a research report on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $28.13.

American Equity Investment Life Holding Company (NYSE:AEL) opened at $31.19 on Thursday. American Equity Investment Life Holding Company has a 1 year low of $21.02 and a 1 year high of $32.50. The company has a market cap of $2,786.83, a P/E ratio of 10.56 and a beta of 2.54. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.27.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.33. American Equity Investment Life had a net margin of 7.90% and a return on equity of 10.50%. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $615.75 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue was up 43.8% on a year-over-year basis. equities analysts anticipate that American Equity Investment Life Holding Company will post 2.99 EPS for the current fiscal year.

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This is an increase from American Equity Investment Life’s previous annual dividend of $0.24. American Equity Investment Life’s payout ratio is presently 9.03%.

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About American Equity Investment Life

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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