Pzena Investment Management LLC Reduces Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Pzena Investment Management LLC lowered its holdings in shares of American Equity Investment Life Holding (NYSE:AEL) by 37.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,490 shares of the financial services provider’s stock after selling 304,905 shares during the quarter. Pzena Investment Management LLC’s holdings in American Equity Investment Life were worth $28,095,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AEL. NBC Securities Inc. purchased a new position in American Equity Investment Life during the 3rd quarter valued at $30,000. Journey Strategic Wealth LLC purchased a new stake in shares of American Equity Investment Life in the 4th quarter worth $207,000. NDVR Inc. purchased a new stake in shares of American Equity Investment Life in the 4th quarter worth $225,000. Pathstone Family Office LLC bought a new position in shares of American Equity Investment Life in the 3rd quarter worth $230,000. Finally, Lido Advisors LLC acquired a new position in American Equity Investment Life during the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AEL. Keefe, Bruyette & Woods boosted their price target on American Equity Investment Life from $55.00 to $56.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. StockNews.com began coverage on American Equity Investment Life in a research note on Saturday, May 18th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.33.

American Equity Investment Life Stock Performance

Shares of AEL traded up $0.31 during mid-day trading on Thursday, reaching $56.47. The company had a trading volume of 25,373,600 shares, compared to its average volume of 887,211. American Equity Investment Life Holding 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 stock has a market capitalization of $4.49 billion, a P/E ratio of 26.39 and a beta of 0.78. The stock has a 50 day moving average of $56.12 and a two-hundred day moving average of $55.58.

American Equity Investment Life Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, April 29th. Stockholders of record on Monday, April 15th were paid a $0.38 dividend. This is an increase from American Equity Investment Life’s previous annual dividend of $0.02. The ex-dividend date of this dividend was Friday, April 12th. This represents a dividend yield of 0.68%. American Equity Investment Life’s dividend payout ratio is presently 17.76%.

About American Equity Investment Life

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.