Todays Report: Today: FBR & Co Boosts American Equity Investment Life Holding Co. (AEL) Price Target to $25.00

Today: FBR & Co Boosts American Equity Investment Life Holding Co. (AEL) Price Target to $25.00

American Equity Investment Life Holding Co. (NYSE:AEL) had its target price hoisted by analysts at FBR & Co from $23.00 to $25.00 in a note issued to investors on Monday, StockTargetPrices.com reports. The firm presently has an “outperform” rating on the stock. FBR & Co’s price objective would indicate a potential upside of 18.04% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Sandler O’Neill raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Friday, November 4th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $20.00 price objective on shares of American Equity Investment Life Holding in a report on Thursday, November 10th. Zacks Investment Research upgraded shares of American Equity Investment Life Holding from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. TheStreet upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Finally, Credit Suisse Group AG assumed coverage on shares of American Equity Investment Life Holding in a report on Friday, October 7th. They issued a “neutral” rating and a $20.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.67.

American Equity Investment Life Holding (NYSE:AEL) opened at 21.18 on Monday. The firm has a 50-day moving average of $18.80 and a 200-day moving average of $16.81. The company’s market cap is $1.83 billion. American Equity Investment Life Holding has a 52 week low of $12.65 and a 52 week high of $27.86.

The company also recently announced an annual dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Monday, December 5th will be given a dividend of $0.24 per share. This represents a yield of 1.11%. The ex-dividend date of this dividend is Thursday, December 1st. This is an increase from American Equity Investment Life Holding’s previous annual dividend of $0.22. American Equity Investment Life Holding’s dividend payout ratio is currently -366.61%.

In other American Equity Investment Life Holding news, Director Alexander Meeker Clark sold 3,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $20.57, for a total transaction of $61,710.00. Following the completion of the sale, the director now owns 7,600 shares of the company’s stock, valued at approximately $156,332. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.43% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its stake in shares of American Equity Investment Life Holding by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the company’s stock valued at $519,000 after buying an additional 200 shares during the period. Eqis Capital Management Inc. increased its stake in shares of American Equity Investment Life Holding by 1.7% in the second quarter. Eqis Capital Management Inc. now owns 20,021 shares of the company’s stock valued at $285,000 after buying an additional 326 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of American Equity Investment Life Holding by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 23,670 shares of the company’s stock valued at $419,000 after buying an additional 330 shares during the period. BlackRock Inc. increased its stake in shares of American Equity Investment Life Holding by 1.6% in the third quarter. BlackRock Inc. now owns 22,807 shares of the company’s stock valued at $404,000 after buying an additional 353 shares during the period. Finally, Capstone Asset Management Co. increased its stake in shares of American Equity Investment Life Holding by 1.5% in the second quarter. Capstone Asset Management Co. now owns 28,583 shares of the company’s stock valued at $407,000 after buying an additional 410 shares during the period. 89.44% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Holding Company Profile

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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