State of Alaska Department of Revenue increased its position in shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,420 shares of the financial services provider's stock after acquiring an additional 930 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of American Equity Investment Life worth $2,136,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in American Equity Investment Life by 1,051.3% during the first quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider's stock worth $1,394,000 after acquiring an additional 31,906 shares during the period. Credit Suisse AG lifted its holdings in shares of American Equity Investment Life by 63.3% during the 4th 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 acquired a new stake in shares of American Equity Investment Life during the 1st quarter valued at about $65,000. Profund Advisors LLC lifted its holdings in shares of American Equity Investment Life by 24.2% during the 1st quarter. Profund Advisors LLC now owns 11,441 shares of the financial services provider's stock valued at $457,000 after buying an additional 2,230 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of American Equity Investment Life during the 4th quarter valued at about $2,708,000. 93.16% of the stock is owned by institutional investors and hedge funds.
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Insider Activity
In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the business's stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the sale, the executive vice president now directly owns 36,439 shares of the company's stock, valued at approximately $1,457,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.59% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on AEL shares. Evercore ISI downgraded American Equity Investment Life from an "outperform" rating to an "in-line" rating and lifted their price target for the stock from $42.00 to $44.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Keefe, Bruyette & Woods lowered American Equity Investment Life from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $43.00 to $41.00 in a research note on Wednesday, July 13th. Truist Financial boosted their price target on American Equity Investment Life from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, August 11th. Morgan Stanley boosted their price objective on American Equity Investment Life from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 17th. Finally, Credit Suisse Group lowered American Equity Investment Life from an "outperform" rating to a "neutral" rating and cut their price target for the company from $43.00 to $38.00 in a research note on Friday, July 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $43.60.
American Equity Investment Life Trading Down 3.4 %
AEL opened at $36.10 on Friday. American Equity Investment Life Holding has a twelve month low of $28.74 and a twelve month high of $44.49. The firm has a market cap of $3.16 billion, a PE ratio of 3.05 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The firm's fifty day moving average is $37.93 and its two-hundred day moving average is $38.06.
American Equity Investment Life (NYSE:AEL – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. The business had revenue of $121.40 million during the quarter, compared to analyst estimates of $628.20 million. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. American Equity Investment Life's quarterly revenue was down 88.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Equities research analysts anticipate that American Equity Investment Life Holding will post 3.78 EPS 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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