American Equity Investment Life Holding (AEL) Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,421,208 shares of the financial services provider’s stock after selling 77,394 shares during the period. Bank of New York Mellon Corp owned about 1.60% of American Equity Investment Life worth $41,329,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in shares of American Equity Investment Life in the 3rd quarter worth about $203,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of American Equity Investment Life in the 3rd quarter worth about $1,056,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of American Equity Investment Life by 59.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 33,470 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 12,500 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of American Equity Investment Life by 0.4% in the 3rd quarter. New York State Common Retirement Fund now owns 678,627 shares of the financial services provider’s stock worth $19,734,000 after acquiring an additional 2,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in American Equity Investment Life by 59.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 65,571 shares of the financial services provider’s stock valued at $1,907,000 after buying an additional 24,428 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on AEL. ValuEngine raised shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 price target on shares of American Equity Investment Life in a report on Tuesday, October 10th. Goldman Sachs Group initiated coverage on shares of American Equity Investment Life in a report on Wednesday, October 18th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, B. Riley restated a “neutral” rating on shares of American Equity Investment Life in a research report on Monday, November 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $28.50.

Shares of American Equity Investment Life Holding (NYSE AEL) traded down $0.58 on Friday, hitting $30.73. 518,001 shares of the stock were exchanged, compared to its average volume of 584,214. The company has a market cap of $2,790.40, a price-to-earnings ratio of 10.67 and a beta of 2.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.12 and a quick ratio of 0.12. American Equity Investment Life Holding has a 52-week low of $21.66 and a 52-week high of $32.54.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.33. The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $615.75 million. American Equity Investment Life had a net margin of 7.90% and a return on equity of 10.50%. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. sell-side analysts expect that American Equity Investment Life Holding will post 3 earnings per share for the current fiscal year.

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th were issued a dividend of $0.26 per share. This is a boost from American Equity Investment Life’s previous annual dividend of $0.24. The ex-dividend date of this dividend was Tuesday, November 28th. American Equity Investment Life’s payout ratio is presently 9.03%.

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About American Equity Investment Life

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 (NYSE:AEL)

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