Assetmark Inc. Grows Stake in American Equity Investment Life Holding (NYSE:AEL)

Assetmark Inc. raised its stake in American Equity Investment Life Holding (NYSE:AEL) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,765 shares of the financial services provider’s stock after acquiring an additional 1,451 shares during the period. Assetmark Inc.’s holdings in American Equity Investment Life were worth $1,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Alpine Associates Management Inc. grew its stake in shares of American Equity Investment Life by 78.6% in the fourth quarter. Alpine Associates Management Inc. now owns 1,698,700 shares of the financial services provider’s stock worth $94,787,000 after acquiring an additional 747,700 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in American Equity Investment Life by 5,296.0% in the 3rd 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 in the last quarter. Soros Fund Management LLC bought a new stake in American Equity Investment Life in the 3rd quarter worth about $71,649,000. Norges Bank bought a new stake in American Equity Investment Life in the 4th quarter worth about $50,560,000. Finally, American Century Companies Inc. increased its holdings in American Equity Investment Life by 48.2% in the 3rd 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 in the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEL. Keefe, Bruyette & Woods lifted their price objective on American Equity Investment Life from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. StockNews.com began coverage on American Equity Investment Life in a report on Sunday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.33.

American Equity Investment Life Trading Up 0.6 %

American Equity Investment Life stock opened at $56.47 on Friday. The business has a 50-day simple moving average of $56.14 and a two-hundred day simple moving average of $55.60. The company has a market cap of $4.49 billion, a P/E ratio of 26.39 and a beta of 0.78. American Equity Investment Life Holding has a 52-week low of $37.54 and a 52-week high of $57.29. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28.

American Equity Investment Life Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 15th were paid a dividend of $0.38 per share. This is an increase from American Equity Investment Life’s previous annual dividend of $0.02. This represents a dividend yield of 0.68%. The ex-dividend date was Friday, April 12th. American Equity Investment Life’s payout ratio is currently 17.76%.

American Equity Investment Life Company 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.