StockNews.com Initiates Coverage on American Equity Investment Life (NYSE:AEL)

StockNews.com initiated coverage on shares of American Equity Investment Life (NYSE:AELFree Report) in a research report released on Saturday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised their price objective on shares of American Equity Investment Life from $55.00 to $56.00 and gave the company 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 currently has a consensus rating of Hold and an average price target of $55.33.

Check Out Our Latest Analysis on American Equity Investment Life

American Equity Investment Life Stock Performance

NYSE:AEL opened at $56.47 on Friday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 26.39 and a beta of 0.78. 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 has a 52 week low of $37.54 and a 52 week high of $57.29. The company has a fifty day simple moving average of $56.11 and a two-hundred day simple moving average of $55.57.

American Equity Investment Life Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 29th. Stockholders 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 a boost from American Equity Investment Life’s previous annual dividend of $0.02. American Equity Investment Life’s payout ratio is 17.76%.

Institutional Investors Weigh In On American Equity Investment Life

Several large investors have recently modified their holdings of AEL. Blackstone Inc. acquired a new stake in American Equity Investment Life during the 1st quarter worth $1,137,000. Price T Rowe Associates Inc. MD grew its holdings in shares of American Equity Investment Life by 8.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,630 shares of the financial services provider’s stock worth $2,172,000 after buying an additional 2,945 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new stake in American Equity Investment Life during the 1st quarter valued at approximately $17,804,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in American Equity Investment Life by 297.8% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 136,450 shares of the financial services provider’s stock worth $7,671,000 after acquiring an additional 102,150 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of American Equity Investment Life by 273.2% in the 1st quarter. Gabelli Funds LLC now owns 127,370 shares of the financial services provider’s stock valued at $7,161,000 after purchasing an additional 93,240 shares during the last quarter. 94.98% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Company Profile

(Get Free Report)

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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