Fox Run Management LLC buys 6,019 shares of American Equity Investment Life Holding (NYSE:AEL)

Fox Run Management LLC purchased a new stake in American Equity Investment Life Holding (NYSE: AEL – Get Rating ) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,019 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of American Equity Investment Life by 0.4% in the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock valued at $531,512,000 after purchasing an additional 49,702 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of American Equity Investment Life by 1.7% in the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock valued at $192,109,000 after buying an additional 85,531 shares during the last quarter. State Street Corp boosted its stake in shares of American Equity Investment Life by 4.7% during the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock valued at $127,313,000 after buying an additional 142,611 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of American Equity Investment Life by 0.3% in the second quarter. Clearbridge Investments LLC now owns 2,822,498 shares of the financial services provider’s stock valued at $103,219,000 after purchasing an additional 7,434 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of American Equity Investment Life by 12.0% in the first quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock valued at $73,278,000 after buying an additional 196,589 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s shares.

American Equity Investment Life Price Performance

Shares of AEL stock opened at $47.65 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.27. American Equity Investment Life Holding has a 12-month low of $28.05 and a 12-month high of $47.99. The firm has a market cap of $4.08 billion, a P/E ratio of 3.48 and a beta of 0.91. The company’s 50-day moving average is $43.76, and its 200-day moving average is $40.29.

American Equity Investment Life (NYSE:AEL – Get Rating) last posted its earnings results on Monday, November 7. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.84 by $0.15. American Equity Investment Life had a net margin of 71.25% and a return on equity of 8.81%. The firm had revenue of $609.74 million for the quarter, compared to analyst estimates of $585.04 million. On average, analysts expect that American Equity Investment Life Holding will post 3.87 earnings per share for the current fiscal year.

American Equity Investment Life Cuts Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, December 13th. Shareholders of record on Monday, November 28th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 25th. This represents a dividend yield of 0.05%. American Equity Investment Life’s payout ratio is currently 0.15%.

Analysts set new price targets

A number of analysts recently issued reports on the stock. Evercore ISI upped their target price on shares of American Equity Investment Life from $38.00 to $43.00 and gave the stock an “in-line” rating in a research note on Wednesday, December 21st. Morgan Stanley upped their target price on shares of American Equity Investment Life from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of American Equity Investment Life from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Raymond James raised shares of American Equity Investment Life from an “outperform” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research report on Monday, December 19th. Finally, Royal Bank of Canada decreased their price objective on shares of American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. American Equity Investment Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.89, based on data from MarketBeat.

American Equity Investment Life Profile

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American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.

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