Invictus RG purchased a new position in shares of American Equity Investment Life Holding (NYSE:AEL) in the third quarter, HoldingsChannel.com reports. The firm purchased 7,184 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other institutional investors have also modified their holdings of AEL. Riverhead Capital Management LLC grew its stake in shares of American Equity Investment Life by 29.2% in the 3rd quarter. Riverhead Capital Management LLC now owns 9,723 shares of the financial services provider’s stock valued at $344,000 after buying an additional 2,200 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of American Equity Investment Life by 3.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 226,865 shares of the financial services provider’s stock valued at $8,022,000 after buying an additional 7,914 shares during the period. Kepos Capital LP acquired a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $423,000. GAM Holding AG grew its stake in shares of American Equity Investment Life by 39.3% in the 3rd quarter. GAM Holding AG now owns 15,251 shares of the financial services provider’s stock valued at $539,000 after buying an additional 4,306 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $489,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Separately, ValuEngine downgraded American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.40.

AEL stock opened at $30.72 on Friday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 9.72 and a beta of 2.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. American Equity Investment Life Holding has a 52-week low of $27.06 and a 52-week high of $38.56.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.99. The business 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%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. On average, analysts forecast that American Equity Investment Life Holding will post 3.68 EPS for the current 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a yield of 0.82%. This is an increase from American Equity Investment Life’s previous annual dividend of $0.26. American Equity Investment Life’s payout ratio is 8.86%.

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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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