Why American Equity Life Stock Was Up 17.2% Today
Shares of American Equity Investment Life Holding (NYSE: AEL) were on the rise Tuesday, as the stock price was up about 17.2% as of the closing bell. Shares had been up as much as 19% during the trading day. The stock price is currently up around 16% year to date, trading at roughly $53 per share.
The major markets were all up on Tuesday, as the S 500 had gained 50 points (1.2%), the Dow Jones Industrial Average climbed 238 points (0.7%), and the Nasdaq Composite jumped 228 points (1.7%) as of the closing bell.
American Equity Investment Life, also known as American Equity Life (AEL), a leading provider of life insurance and fixed index annuities, was up big today on the news that it was the target for an acquisition. Specifically, it confirmed Tuesday that Brookfield Reinsurance made an offer to buy it.
Source Fool.com
