American Equity Investment Life Holding Company (AEL) Holdings Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its position in American Equity Investment Life Holding Company (NYSE:AEL) by 486.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 95,741 shares of the financial services provider’s stock after purchasing an additional 79,413 shares during the period. Convergence Investment Partners LLC owned about 0.11% of American Equity Investment Life worth $2,784,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in American Equity Investment Life by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 414 shares in the last quarter. Riverhead Capital Management LLC grew its position in American Equity Investment Life by 79.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 2,226 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in American Equity Investment Life in the 2nd quarter worth about $174,000. Teacher Retirement System of Texas bought a new stake in American Equity Investment Life in the 3rd quarter worth about $203,000. Finally, Neuberger Berman Group LLC bought a new stake in American Equity Investment Life in the 2nd quarter worth about $203,000. 93.13% of the stock is owned by institutional investors and hedge funds.

AEL has been the subject of a number of research reports. Zacks Investment Research raised shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday, August 8th. 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. Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.00 target price on shares of American Equity Investment Life in a research report on Wednesday, August 16th. ValuEngine raised shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reissued 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. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. American Equity Investment Life has an average rating of “Buy” and an average price target of $27.63.

American Equity Investment Life Holding Company (AEL) opened at $31.80 on Tuesday. American Equity Investment Life Holding Company has a 52-week low of $21.02 and a 52-week high of $32.50. The firm has a market cap of $2,762.77, a P/E ratio of 10.47 and a beta of 2.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.12 and a current ratio of 0.12.

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

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

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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.

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

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