Russell Investments Group Ltd. Acquires 4,360 Shares of American Equity Investment Life Holding (NYSE:AEL)

Russell Investments Group Ltd. lifted its stake in American Equity Investment Life Holding (NYSE:AEL) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,218 shares of the financial services provider’s stock after purchasing an additional 4,360 shares during the period. Russell Investments Group Ltd.’s holdings in American Equity Investment Life were worth $7,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NBC Securities Inc. bought a new position in shares of American Equity Investment Life during the 3rd quarter valued at approximately $30,000. Pathstone Family Office LLC purchased a new stake in shares of American Equity Investment Life in the third quarter worth $230,000. Lido Advisors LLC purchased a new stake in shares of American Equity Investment Life in the third quarter worth $249,000. AlphaMark Advisors LLC bought a new stake in shares of American Equity Investment Life during the 3rd quarter valued at $267,000. Finally, Paulson Wealth Management Inc. lifted its stake in shares of American Equity Investment Life by 10.8% during the 3rd quarter. Paulson Wealth Management Inc. now owns 5,650 shares of the financial services provider’s stock valued at $303,000 after buying an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.

American Equity Investment Life Stock Up 0.6 %

AEL opened at $56.47 on Wednesday. The company has a market capitalization of $4.49 billion, a PE ratio of 26.39 and a beta of 0.78. The firm has a 50-day simple moving average of $55.93 and a two-hundred day simple moving average of $55.33. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28. American Equity Investment Life Holding has a 52 week low of $37.54 and a 52 week high of $57.29.

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

American Equity Investment Life Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on AEL. StockNews.com began coverage on American Equity Investment Life in a report on Monday, March 11th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price target on American Equity Investment Life from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.50.

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.