Principal Financial Group Inc. reduced its position in American Equity Investment Life Holding Company (NYSE:AEL) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 686,964 shares of the financial services provider’s stock after selling 7,539 shares during the period. Principal Financial Group Inc. owned approximately 0.77% of American Equity Investment Life Holding worth $19,976,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in American Equity Investment Life Holding by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock valued at $104,000 after buying an additional 414 shares during the last quarter. Riverhead Capital Management LLC boosted its position in American Equity Investment Life Holding by 79.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,226 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in American Equity Investment Life Holding in the 2nd quarter valued at about $174,000. Neuberger Berman Group LLC purchased a new position in American Equity Investment Life Holding in the 2nd quarter valued at about $203,000. Finally, Stifel Financial Corp purchased a new position in American Equity Investment Life Holding in the 2nd quarter valued at about $216,000. 91.55% of the stock is owned by institutional investors.

AEL has been the subject of a number of analyst reports. BidaskClub cut shares of American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Royal Bank Of Canada increased their price target on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. TheStreet raised shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a research report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.63.

American Equity Investment Life Holding Company (NYSE:AEL) opened at $30.82 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.12 and a current ratio of 0.12. American Equity Investment Life Holding Company has a 12-month low of $20.22 and a 12-month high of $31.05. The company has a market cap of $2,746.73, a PE ratio of 10.41 and a beta of 2.54.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.63 by $0.33. American Equity Investment Life Holding had a net margin of 7.90% and a return on equity of 10.50%. The business had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $615.75 million. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. research analysts forecast that American Equity Investment Life Holding Company will post 2.99 EPS for the current fiscal year.

The business also recently declared an annual dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.26 per share. This is a boost from American Equity Investment Life Holding’s previous annual dividend of $0.24. The ex-dividend date of this dividend is Tuesday, November 28th. American Equity Investment Life Holding’s dividend payout ratio (DPR) is presently 8.33%.

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About American Equity Investment Life Holding

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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