Picton Mahoney Asset Management Cuts Position in American Equity Investment Life Holding (NYSE:AEL)

Picton Mahoney Asset Management cut its stake in American Equity Investment Life Holding (NYSE:AEL - Free Report) by 84.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,249 shares of the financial services provider's stock after selling 424,314 shares during the quarter. Picton Mahoney Asset Management owned about 0.10% of American Equity Investment Life worth $4,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AEL. New York Life Investment Management LLC grew its stake in American Equity Investment Life by 1,658.0% during the 4th quarter. New York Life Investment Management LLC now owns 171,262 shares of the financial services provider's stock worth $9,556,000 after buying an additional 161,520 shares during the last quarter. Russell Investments Group Ltd. grew its stake in American Equity Investment Life by 3.4% during the 4th quarter. Russell Investments Group Ltd. now owns 134,218 shares of the financial services provider's stock valued at $7,489,000 after purchasing an additional 4,360 shares during the last quarter. Yousif Capital Management LLC grew its stake in American Equity Investment Life by 1.0% during the 4th quarter. Yousif Capital Management LLC now owns 31,136 shares of the financial services provider's stock valued at $1,737,000 after purchasing an additional 300 shares during the last quarter. California Public Employees Retirement System grew its stake in American Equity Investment Life by 27.9% during the 4th quarter. California Public Employees Retirement System now owns 159,758 shares of the financial services provider's stock valued at $8,914,000 after purchasing an additional 34,877 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in American Equity Investment Life during the 4th quarter valued at about $1,741,000. 94.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEL has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on American Equity Investment Life from $55.00 to $56.00 and gave the company a "market perform" rating in a research note on Friday, February 16th. StockNews.com started coverage on American Equity Investment Life in a report on Monday, March 11th. They issued a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $52.50.

American Equity Investment Life Price Performance

NYSE AEL traded up $0.31 during trading hours on Wednesday, reaching $56.47. The company's stock had a trading volume of 25,373,600 shares, compared to its average volume of 887,211. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 26.39 and a beta of 0.78. American Equity Investment Life Holding has a 1-year low of $37.54 and a 1-year high of $57.29. 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 company's 50-day moving average is $55.95 and its two-hundred day moving average is $55.34.

American Equity Investment Life (NYSE:AEL - Get Free Report) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.24. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $673.53 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business's revenue was up 61.7% compared to the same quarter last year. On average, equities analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current year.

American Equity Investment Life Increases Dividend

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

About American Equity Investment Life

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.

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