American Equity Investment Life Holding (NYSE:AEL) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in American Equity Investment Life Holding (NYSE:AELFree Report) by 33.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,358 shares of the financial services provider’s stock after selling 3,220 shares during the period. PNC Financial Services Group Inc.’s holdings in American Equity Investment Life were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEL. Norges Bank purchased a new stake in shares of American Equity Investment Life during the 4th quarter valued at about $50,560,000. NDVR Inc. purchased a new stake in shares of American Equity Investment Life during the 4th quarter valued at about $225,000. Principal Financial Group Inc. raised its holdings in shares of American Equity Investment Life by 1.4% during the 4th quarter. Principal Financial Group Inc. now owns 376,431 shares of the financial services provider’s stock valued at $21,005,000 after buying an additional 5,163 shares during the period. QRG Capital Management Inc. raised its holdings in shares of American Equity Investment Life by 11.1% during the 4th quarter. QRG Capital Management Inc. now owns 7,102 shares of the financial services provider’s stock valued at $396,000 after buying an additional 707 shares during the period. Finally, Alpine Associates Management Inc. raised its holdings in shares of American Equity Investment Life by 78.6% during the 4th quarter. Alpine Associates Management Inc. now owns 1,698,700 shares of the financial services provider’s stock valued at $94,787,000 after buying an additional 747,700 shares during the period. 94.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AEL has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on American Equity Investment Life in a research note on Monday. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised their price objective on American Equity Investment Life from $55.00 to $56.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.33.

Get Our Latest Stock Analysis on AEL

American Equity Investment Life Price Performance

Shares of AEL opened at $56.47 on Wednesday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 26.39 and a beta of 0.78. The stock has a 50 day moving average of $56.18 and a 200-day moving average of $55.73. The company has a current ratio of 0.34, a quick 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 Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 29th. Stockholders of record on Monday, April 15th were given a $0.38 dividend. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. The ex-dividend date was Friday, April 12th. This represents a dividend yield of 0.68%. American Equity Investment Life’s dividend payout ratio (DPR) is presently 17.76%.

American Equity Investment Life Company Profile

(Free Report)

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.

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

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