American Equity Investment Life (NYSE:AEL) Hits New 1-Year High at $56.41

American Equity Investment Life Holding (NYSE:AEL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $56.41 and last traded at $56.34, with a volume of 42647 shares changing hands. The stock had previously closed at $56.25.

Wall Street Analyst Weigh In

Several analysts have commented on AEL shares. StockNews.com began coverage on shares of American Equity Investment Life in a research note on Monday, March 11th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods upped 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. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, American Equity Investment Life presently has an average rating of “Hold” and a consensus price target of $52.50.

American Equity Investment Life Trading Down 0.3 %

The company’s 50 day simple moving average is $55.72 and its 200-day simple moving average is $55.11. The firm has a market cap of $4.45 billion, a P/E ratio of 26.29 and a beta of 0.80. 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 (NYSE:AEL) last released its earnings results 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. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $673.53 million. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The business’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. As a group, research analysts predict that American Equity Investment Life Holding will post 7.11 earnings per share for the current fiscal year.

American Equity Investment Life Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be issued a $0.38 dividend. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.02. The ex-dividend date of this dividend is Friday, April 12th. This represents a dividend yield of 0.68%. American Equity Investment Life’s payout ratio is presently 17.76%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AEL. Illinois Municipal Retirement Fund bought a new position in shares of American Equity Investment Life during the 3rd quarter worth $1,941,000. The Manufacturers Life Insurance Company grew its holdings in American Equity Investment Life by 5,296.0% during 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 acquiring an additional 1,638,328 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in American Equity Investment Life during the 3rd quarter valued at about $51,012,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $669,000. Finally, American Century Companies Inc. lifted its position in shares of 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 purchasing an additional 230,465 shares during the period. 94.98% of the stock is currently owned by hedge funds and other institutional investors.

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.