Mutual of America Capital Management LLC raised its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 3.6% during the third quarter, Holdings Channel reports. The institutional investor owned 226,865 shares of the financial services provider’s stock after buying an additional 7,914 shares during the period. Mutual of America Capital Management LLC’s holdings in American Equity Investment Life were worth $8,022,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. 6 Meridian acquired a new stake in shares of American Equity Investment Life during the second quarter worth $206,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of American Equity Investment Life during the second quarter worth $209,000. Sawtooth Solutions LLC acquired a new stake in shares of American Equity Investment Life during the second quarter worth $238,000. Commonwealth Bank of Australia acquired a new stake in shares of American Equity Investment Life during the third quarter worth $272,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of American Equity Investment Life during the third quarter worth $290,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Shares of AEL opened at $31.28 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $2.83 billion, a P/E ratio of 9.90 and a beta of 2.49. American Equity Investment Life Holding has a twelve month low of $27.06 and a twelve month high of $38.56.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.99. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $600.27 million. American Equity Investment Life had a return on equity of 12.77% and a net margin of 13.62%. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities research analysts expect that American Equity Investment Life Holding will post 4.34 EPS for the current year.

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

Separately, Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. American Equity Investment Life currently has a consensus rating of “Buy” and an average target price of $36.17.

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About American Equity Investment Life

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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