Allianz Asset Management GmbH increased its holdings in shares of American Equity Investment Life Holding (NYSE:AEL) by 60.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,451 shares of the financial services provider’s stock after acquiring an additional 99,074 shares during the period. Allianz Asset Management GmbH owned approximately 0.29% of American Equity Investment Life worth $7,632,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Apollo Management Holdings L.P. boosted its position in American Equity Investment Life by 26.7% during the second quarter. Apollo Management Holdings L.P. now owns 3,266,544 shares of the financial services provider’s stock worth $85,845,000 after purchasing an additional 688,255 shares in the last quarter. Vanguard Group Inc. boosted its position in American Equity Investment Life by 5.4% during the second quarter. Vanguard Group Inc. now owns 8,823,142 shares of the financial services provider’s stock worth $231,872,000 after purchasing an additional 450,110 shares in the last quarter. Numeric Investors LLC boosted its position in American Equity Investment Life by 265.6% during the second quarter. Numeric Investors LLC now owns 508,553 shares of the financial services provider’s stock worth $13,365,000 after purchasing an additional 369,453 shares in the last quarter. Victory Capital Management Inc. boosted its position in American Equity Investment Life by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,258,753 shares of the financial services provider’s stock worth $33,080,000 after purchasing an additional 313,332 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in American Equity Investment Life during the third quarter worth $6,652,000. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Equity Investment Life Holding (AEL) opened at $31.53 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.12 and a quick ratio of 0.12. American Equity Investment Life Holding has a 12-month low of $21.66 and a 12-month high of $32.54. The stock has a market capitalization of $2,812.69, a price-to-earnings ratio of 10.66 and a beta of 2.54.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.33. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The business had revenue of $906.00 million for the quarter, compared to the consensus estimate of $615.75 million. During the same period in the prior year, the business earned ($0.05) earnings per share. The business’s revenue was up 43.8% on a year-over-year basis. sell-side analysts anticipate that American Equity Investment Life Holding will post 3 EPS for the current fiscal year.

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

A number of research firms have commented on AEL. B. Riley reiterated a “neutral” rating on shares of American Equity Investment Life in a research report on Monday, November 6th. ValuEngine downgraded American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. BidaskClub downgraded American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Royal Bank of Canada reiterated a “buy” rating and set a $30.00 target price on shares of American Equity Investment Life in a research report on Tuesday, October 10th. Finally, Goldman Sachs Group began coverage on American Equity Investment Life in a research report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 target price on the stock. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.50.

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American Equity Investment Life Profile

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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