American Equity Investment Life Holding (NYSE:AEL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in American Equity Investment Life Holding (NYSE:AEL) by 50.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,200 shares of the financial services provider’s stock after selling 30,100 shares during the period. New York State Common Retirement Fund’s holdings in American Equity Investment Life were worth $1,629,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in American Equity Investment Life by 5,296.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider’s stock worth $89,539,000 after acquiring an additional 1,638,328 shares in the last quarter. Soros Fund Management LLC purchased a new position in American Equity Investment Life in the 3rd quarter valued at about $71,649,000. Alpine Associates Management Inc. acquired a new stake in American Equity Investment Life in the 3rd quarter worth about $51,012,000. American Century Companies Inc. increased its stake in American Equity Investment Life by 48.2% during the 3rd quarter. American Century Companies Inc. now owns 708,859 shares of the financial services provider’s stock worth $38,023,000 after buying an additional 230,465 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of American Equity Investment Life by 1,385.5% during the third quarter. Qube Research & Technologies Ltd now owns 513,179 shares of the financial services provider’s stock valued at $27,527,000 after acquiring an additional 478,634 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

American Equity Investment Life Trading Up 0.6 %

Shares of American Equity Investment Life stock opened at $56.47 on Friday. American Equity Investment Life Holding has a 1-year low of $37.54 and a 1-year high of $57.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market cap of $4.49 billion, a P/E ratio of 26.39 and a beta of 0.78. The stock’s 50 day simple moving average is $55.97 and its 200-day simple moving average is $55.35.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $673.53 million. During the same period in the prior year, the business earned $1.64 EPS. The firm’s quarterly revenue was up 61.7% on a year-over-year basis. Analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current fiscal year.

American Equity Investment Life Increases Dividend

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

Analyst Upgrades and Downgrades

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

American Equity Investment Life Company Profile

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.