American Equity Investment Life Holding Co. (NYSE:AEL) traded up 2% during trading on Tuesday . The company traded as high as $15.66 and last traded at $15.65, with a volume of 828,904 shares. The stock had previously closed at $15.35.

A number of equities research analysts have commented on the stock. FBR & Co restated an “outperform” rating and issued a $21.00 price target (up from $20.00) on shares of American Equity Investment Life Holding in a report on Thursday, May 26th. Zacks Investment Research lowered shares of American Equity Investment Life Holding from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Jefferies Group raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research note on Monday, June 6th. JPMorgan Chase & Co. raised shares of American Equity Investment Life Holding from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Monday, June 6th. Finally, Sandler O’Neill lowered shares of American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. American Equity Investment Life Holding currently has a consensus rating of “Buy” and a consensus target price of $23.67.

The stock has a market cap of $1.29 billion and a P/E ratio of 7.53. The firm’s 50-day moving average price is $15.29 and its 200-day moving average price is $15.23.

In related news, Director Alexander Meeker Clark sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $16.66, for a total transaction of $83,300.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $141,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds and institutional investors recently modified their holdings of the stock. I.G. Investment Management LTD. increased its position in shares of American Equity Investment Life Holding by 13.5% in the fourth quarter. I.G. Investment Management LTD. now owns 55,836 shares of the company’s stock worth $1,342,000 after buying an additional 6,638 shares during the last quarter. State of Tennessee Treasury Department bought a new position in shares of American Equity Investment Life Holding during the fourth quarter worth about $1,516,000. First Trust Advisors LP increased its position in shares of American Equity Investment Life Holding by 37.5% in the fourth quarter. First Trust Advisors LP now owns 64,523 shares of the company’s stock worth $1,550,000 after buying an additional 17,603 shares during the last quarter. Sei Investments Co. increased its position in shares of American Equity Investment Life Holding by 17.3% in the fourth quarter. Sei Investments Co. now owns 75,636 shares of the company’s stock worth $1,817,000 after buying an additional 11,166 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of American Equity Investment Life Holding during the fourth quarter worth about $1,845,000.

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.

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