The Municipal Employees Retirement System of Michigan Buys 330 Shares of American Equity Investment Life Holding Company (AEL)

The Municipal Employees Retirement System of Michigan Buys 330 Shares of American Equity Investment Life Holding Company (AEL)

Municipal Employees Retirement System of Michigan raised its position in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,670 shares of the company’s stock after buying an additional 330 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in American Equity Investment Life Holding Company were worth $419,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of American Equity Investment Life Holding Company by 29.3% in the third quarter. Bank of Montreal Can now owns 6,786 shares of the company’s stock worth $120,000 after buying an additional 1,536 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of American Equity Investment Life Holding Company by 1,507.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,313 shares of the company’s stock worth $104,000 after buying an additional 6,858 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of American Equity Investment Life Holding Company by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 7,673 shares of the company’s stock worth $109,000 after buying an additional 1,331 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of American Equity Investment Life Holding Company by 4.3% in the second quarter. PineBridge Investments L.P. now owns 10,434 shares of the company’s stock worth $148,000 after buying an additional 432 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of American Equity Investment Life Holding Company during the second quarter worth about $152,000. 89.23% of the stock is currently owned by institutional investors.

Shares of American Equity Investment Life Holding Company (NYSE:AEL) traded up 1.50% during mid-day trading on Wednesday, reaching $23.05. The company’s stock had a trading volume of 405,078 shares. The company’s market cap is $1.99 billion. American Equity Investment Life Holding Company has a 12 month low of $12.65 and a 12 month high of $23.97. The company has a 50-day moving average of $22.42 and a 200-day moving average of $18.64.

The company also recently announced an annual dividend, which was paid on Tuesday, December 20th. Stockholders of record on Monday, December 5th were issued a dividend of $0.24 per share. This is a positive change from American Equity Investment Life Holding Company’s previous annual dividend of $0.22. This represents a dividend yield of 1.11%. The ex-dividend date was Thursday, December 1st. American Equity Investment Life Holding Company’s dividend payout ratio is currently -399.93%.

A number of research analysts have recently issued reports on the company. RBC Capital Markets reissued a “buy” rating and issued a $24.00 price objective on shares of American Equity Investment Life Holding Company in a research note on Tuesday, January 3rd. Zacks Investment Research raised American Equity Investment Life Holding Company from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Monday. J P Morgan Chase & Co lowered American Equity Investment Life Holding Company from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $24.00 in a research report on Tuesday, January 3rd. FBR & Co boosted their target price on American Equity Investment Life Holding Company from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, November 28th. Finally, Sandler O’Neill raised American Equity Investment Life Holding Company from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, November 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Equity Investment Life Holding Company currently has a consensus rating of “Buy” and a consensus target price of $22.25.

In related news, Director Alan David Matula acquired 2,200 shares of the stock in a transaction on Monday, December 19th. The stock was acquired at an average cost of $22.60 per share, for a total transaction of $49,720.00. Following the completion of the acquisition, the director now directly owns 6,950 shares of the company’s stock, valued at approximately $157,070. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander Meeker Clark sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $22.67, for a total transaction of $113,350.00. Following the completion of the sale, the director now owns 10,500 shares of the company’s stock, valued at $238,035. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

American Equity Investment Life Holding Company 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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