American Equity Investment Life (NYSE:AEL) Sets New 12-Month High at $57.29

American Equity Investment Life Holding (NYSE:AEL)’s stock price hit a new 52-week high on Thursday . The company traded as high as $57.29 and last traded at $56.47, with a volume of 24215765 shares changing hands. The stock had previously closed at $56.16.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped 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 research report on Friday, February 16th. StockNews.com started coverage on shares of American Equity Investment Life in a research report on Monday, March 11th. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Hold” and an average price target of $52.50.

American Equity Investment Life Stock Up 0.6 %

The firm has a 50 day moving average price of $55.89 and a 200-day moving average price of $55.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 26.39 and a beta of 0.78.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $673.53 million. American Equity Investment Life had a net margin of 7.42% and a return on equity of 25.15%. The company’s revenue was up 61.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. As a group, equities analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current fiscal year.

American Equity Investment Life Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 15th were issued a dividend of $0.38 per share. This represents a yield of 0.68%. The ex-dividend date was Friday, April 12th. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. American Equity Investment Life’s payout ratio is currently 17.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in American Equity Investment Life during the third quarter valued at approximately $30,000. Journey Strategic Wealth LLC acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at $207,000. NDVR Inc. bought a new stake in shares of American Equity Investment Life in the 4th quarter valued at $225,000. Kapitalo Investimentos Ltda raised its stake in American Equity Investment Life by 300.8% during the 4th quarter. Kapitalo Investimentos Ltda now owns 4,140 shares of the financial services provider’s stock worth $231,000 after buying an additional 3,107 shares during the period. Finally, Pathstone Family Office LLC acquired a new stake in American Equity Investment Life during the 3rd quarter worth $230,000. 94.98% of the stock is currently owned by institutional investors.

American Equity Investment Life Company Profile

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.