C M Bidwell & Associates Ltd. lessened its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 54.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,835 shares of the financial services provider’s stock after selling 3,385 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in American Equity Investment Life were worth $100,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AEL. Envestnet Asset Management Inc. boosted its position in shares of American Equity Investment Life by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,520 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 1,620 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of American Equity Investment Life by 9.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,376 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 1,728 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of American Equity Investment Life by 29.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 9,723 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 2,200 shares during the last quarter. Affinity Investment Advisors LLC boosted its position in shares of American Equity Investment Life by 19.6% during the 3rd quarter. Affinity Investment Advisors LLC now owns 15,122 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 2,475 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of American Equity Investment Life by 13.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,553 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 2,495 shares during the last quarter. 92.94% of the stock is owned by institutional investors and hedge funds.

NYSE:AEL opened at $31.02 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of 8.66 and a beta of 2.49. American Equity Investment Life Holding has a 1-year low of $27.06 and a 1-year high of $38.56. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.99. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. American Equity Investment Life had a return on equity of 12.77% and a net margin of 13.62%. American Equity Investment Life’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities analysts forecast that American Equity Investment Life Holding will post 3.68 EPS for the current fiscal year.

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

Separately, ValuEngine downgraded American Equity Investment Life from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. American Equity Investment Life has a consensus rating of “Buy” and an average 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.

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

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