Dynamic Technology Lab Private Ltd Buys Shares of 27,150 American Equity Investment Life Holding (AEL)

Dynamic Technology Lab Private Ltd bought a new stake in shares of American Equity Investment Life Holding (NYSE:AEL) during the third quarter, HoldingsChannel reports. The institutional investor bought 27,150 shares of the financial services provider’s stock, valued at approximately $960,000.

A number of other institutional investors have also added to or reduced their stakes in AEL. 6 Meridian bought a new stake in shares of American Equity Investment Life in the 2nd quarter valued at about $206,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of American Equity Investment Life in the 2nd quarter valued at about $209,000. Sawtooth Solutions LLC bought a new stake in shares of American Equity Investment Life in the 2nd quarter valued at about $238,000. Invictus RG bought a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $254,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $272,000. Institutional investors own 92.94% of the company’s stock.

Shares of AEL stock opened at $29.54 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $2.78 billion, a PE ratio of 8.51 and a beta of 2.49. American Equity Investment Life Holding has a one year low of $27.06 and a one year high of $38.56.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.99. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $600.27 million. American Equity Investment Life had a return on equity of 12.77% and a net margin of 13.62%. During the same period in the prior year, the business posted $0.96 EPS. American Equity Investment Life’s revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that American Equity Investment Life Holding will post 3.68 earnings per share for the current fiscal year.

The firm also recently announced an annual dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be paid a dividend of $0.28 per share. This represents a yield of 0.82%. This is a boost from American Equity Investment Life’s previous annual dividend of $0.26. The ex-dividend date of this dividend is Tuesday, November 27th. American Equity Investment Life’s dividend payout ratio is presently 8.86%.

Separately, ValuEngine cut American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Thursday, December 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.40.

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American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Read More: Earnings Reports

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL).

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

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