American Equity Investment Life Holding Company (AEL) Position Cut by State of Tennessee Treasury Department

State of Tennessee Treasury Department decreased its holdings in American Equity Investment Life Holding Company (NYSE:AEL) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,965 shares of the financial services provider’s stock after selling 4,928 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of American Equity Investment Life worth $2,267,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in AEL. Wellington Management Group LLP lifted its stake in shares of American Equity Investment Life by 57.0% in the first quarter. Wellington Management Group LLP now owns 26,580 shares of the financial services provider’s stock worth $628,000 after acquiring an additional 9,647 shares in the last quarter. Morgan Stanley lifted its stake in shares of American Equity Investment Life by 26.5% in the first quarter. Morgan Stanley now owns 527,687 shares of the financial services provider’s stock worth $12,469,000 after acquiring an additional 110,547 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in American Equity Investment Life during the first quarter valued at approximately $539,000. AQR Capital Management LLC raised its stake in American Equity Investment Life by 45.5% during the first quarter. AQR Capital Management LLC now owns 54,221 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 16,968 shares in the last quarter. Finally, Credit Suisse AG raised its stake in American Equity Investment Life by 6.4% during the first quarter. Credit Suisse AG now owns 111,859 shares of the financial services provider’s stock valued at $2,643,000 after buying an additional 6,762 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Several brokerages have issued reports on AEL. ValuEngine upgraded American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 22nd. Goldman Sachs Group began coverage on American Equity Investment Life in a research note on Wednesday, October 18th. They set a “neutral” rating and a $29.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and set a $30.00 price objective on shares of American Equity Investment Life in a research note on Tuesday, October 10th. B. Riley restated a “neutral” rating on shares of American Equity Investment Life in a research note on Monday, November 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 price objective on shares of American Equity Investment Life in a research note on Wednesday, August 16th. Six 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 stock. The company has an average rating of “Buy” and a consensus target price of $27.63.

American Equity Investment Life Holding Company (NYSE:AEL) traded up $0.80 during trading hours on Monday, hitting $31.80. The stock had a trading volume of 1,057,231 shares, compared to its average volume of 570,886. The company has a market capitalization of $2,762.77, a price-to-earnings ratio of 10.47 and a beta of 2.54. American Equity Investment Life Holding Company has a 52 week low of $21.02 and a 52 week high of $32.50. 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 (NYSE:AEL) last posted its earnings results on Monday, November 6th. The financial services provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.33. The company had revenue of $906.00 million during the quarter, compared to analyst estimates of $615.75 million. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The business’s revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. sell-side analysts forecast that American Equity Investment Life Holding Company will post 2.99 EPS for the current fiscal year.

The business also recently announced an annual dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.24. American Equity Investment Life’s dividend payout ratio is 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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