American Equity Investment Life Holding (NYSE:AEL) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,907 shares of the financial services provider’s stock after acquiring an additional 1,282 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Equity Investment Life were worth $2,004,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund acquired a new position in shares of American Equity Investment Life during the third quarter valued at approximately $1,941,000. The Manufacturers Life Insurance Company grew its position in American Equity Investment Life by 5,296.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider’s stock worth $89,539,000 after buying an additional 1,638,328 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in American Equity Investment Life in the third quarter worth approximately $51,012,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in American Equity Investment Life in the third quarter worth approximately $669,000. Finally, American Century Companies Inc. grew its position in American Equity Investment Life by 48.2% in the third quarter. American Century Companies Inc. now owns 708,859 shares of the financial services provider’s stock worth $38,023,000 after buying an additional 230,465 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AEL. StockNews.com began coverage on shares of American Equity Investment Life in a research report on Monday, March 11th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of American Equity Investment Life from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.50.

American Equity Investment Life Trading Up 0.5 %

NYSE AEL opened at $55.40 on Friday. American Equity Investment Life Holding has a twelve month low of $36.69 and a twelve month high of $56.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 25.89 and a beta of 0.80. The firm’s 50 day moving average price is $55.71 and its two-hundred day moving average price is $55.07.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.24. American Equity Investment Life had a net margin of 7.42% and a return on equity of 25.15%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $673.53 million. During the same period in the previous year, the company posted $1.64 EPS. The company’s quarterly revenue was up 61.7% compared to the same quarter last year. Equities analysts anticipate that American Equity Investment Life Holding will post 7.11 EPS for the current year.

American Equity Investment Life Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a dividend yield of 0.68%. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. American Equity Investment Life’s dividend payout ratio (DPR) is 17.76%.

American Equity Investment Life Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.