Healthcare of Ontario Pension Plan Trust Fund bought a new position in American Equity Investment Life Holding (NYSE:AEL – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,000 shares of the financial services provider's stock, valued at approximately $1,317,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AEL. SG Americas Securities LLC lifted its stake in American Equity Investment Life by 1,051.3% in the 1st quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider's stock worth $1,394,000 after purchasing an additional 31,906 shares in the last quarter. Credit Suisse AG boosted its stake in American Equity Investment Life by 63.3% during the fourth quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider's stock valued at $4,580,000 after buying an additional 45,595 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in American Equity Investment Life during the 1st quarter valued at approximately $65,000. Profund Advisors LLC increased its stake in American Equity Investment Life by 24.2% in the 1st quarter. Profund Advisors LLC now owns 11,441 shares of the financial services provider's stock worth $457,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of American Equity Investment Life during the 4th quarter worth approximately $2,708,000. Institutional investors own 93.16% of the company's stock.
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Insiders Place Their Bets
In other news, EVP Jeffrey D. Lorenzen sold 25,000 shares of American Equity Investment Life stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 36,439 shares of the company's stock, valued at $1,457,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.59% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of American Equity Investment Life from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $43.00 to $41.00 in a research report on Wednesday, July 13th. Morgan Stanley upped their target price on shares of American Equity Investment Life from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 17th. Credit Suisse Group lowered American Equity Investment Life from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $43.00 to $38.00 in a research report on Friday, July 22nd. Piper Sandler decreased their price objective on American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 8th. Finally, Truist Financial lifted their target price on American Equity Investment Life from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $43.60.
American Equity Investment Life Stock Performance
Shares of American Equity Investment Life stock opened at $36.70 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $37.56 and its two-hundred day moving average is $38.03. American Equity Investment Life Holding has a 52 week low of $27.12 and a 52 week high of $44.49. The company has a market capitalization of $3.22 billion, a PE ratio of 3.10 and a beta of 1.04.
American Equity Investment Life (NYSE:AEL – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.27. The firm had revenue of $121.40 million for the quarter, compared to analysts' expectations of $628.20 million. American Equity Investment Life had a net margin of 61.05% and a return on equity of 8.22%. The business's revenue for the quarter was down 88.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, analysts expect that American Equity Investment Life Holding will post 3.73 earnings per share for the current year.
American Equity Investment Life Company Profile
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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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