New York Life Investment Management LLC Has $9.56 Million Stake in American Equity Investment Life Holding (NYSE:AEL)

New York Life Investment Management LLC grew its stake in American Equity Investment Life Holding (NYSE:AEL - Free Report) by 1,658.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,262 shares of the financial services provider's stock after purchasing an additional 161,520 shares during the quarter. New York Life Investment Management LLC owned approximately 0.22% of American Equity Investment Life worth $9,556,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in American Equity Investment Life by 3.4% during the fourth quarter. Russell Investments Group Ltd. now owns 134,218 shares of the financial services provider's stock worth $7,489,000 after purchasing an additional 4,360 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of American Equity Investment Life by 1.0% in the fourth quarter. Yousif Capital Management LLC now owns 31,136 shares of the financial services provider's stock valued at $1,737,000 after acquiring an additional 300 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of American Equity Investment Life by 27.9% in the fourth quarter. California Public Employees Retirement System now owns 159,758 shares of the financial services provider's stock valued at $8,914,000 after acquiring an additional 34,877 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of American Equity Investment Life during the fourth quarter valued at approximately $1,741,000. Finally, Meeder Asset Management Inc. lifted its holdings in American Equity Investment Life by 141.1% during the fourth quarter. Meeder Asset Management Inc. now owns 7,577 shares of the financial services provider's stock worth $423,000 after acquiring an additional 4,434 shares during the period. Hedge funds and other institutional investors own 94.98% of the company's stock.

American Equity Investment Life Stock Performance

Shares of AEL traded up $0.31 during mid-day trading on Friday, hitting $56.47. The stock had a trading volume of 25,373,677 shares, compared to its average volume of 941,695. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.34 and a quick ratio of 0.34. The firm 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 business has a fifty day moving average price of $55.89 and a 200-day moving average price of $55.27.

American Equity Investment Life (NYSE:AEL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.24. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $673.53 million. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The firm's quarterly revenue was up 61.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. On average, equities research analysts expect 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 was paid on Monday, April 29th. Shareholders of record on Monday, April 15th were given a dividend of $0.38 per share. The ex-dividend date was Friday, April 12th. This represents a dividend yield of 0.68%. This is an increase from American Equity Investment Life's previous annual dividend of $0.02. American Equity Investment Life's dividend payout ratio is currently 17.76%.

Analyst Upgrades and Downgrades

AEL has been the subject of several research analyst reports. StockNews.com assumed coverage on American Equity Investment Life in a research report on Monday, March 11th. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $52.50.

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.