River Road Asset Management LLC decreased its position in American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 2.5% in the second quarter, Holdings Channel.com reports. The firm owned 3,923,013 shares of the financial services provider's stock after selling 99,070 shares during the quarter. American Equity Investment Life comprises approximately 2.0% of River Road Asset Management LLC's investment portfolio, making the stock its 9th largest position. River Road Asset Management LLC's holdings in American Equity Investment Life were worth $143,465,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in AEL. Renaissance Technologies LLC raised its holdings in American Equity Investment Life by 34.9% in the fourth quarter. Renaissance Technologies LLC now owns 201,900 shares of the financial services provider's stock worth $7,858,000 after purchasing an additional 52,200 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of American Equity Investment Life by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,399,612 shares of the financial services provider's stock valued at $54,472,000 after acquiring an additional 48,909 shares in the last quarter. Barclays PLC increased its holdings in shares of American Equity Investment Life by 25.1% during the fourth quarter. Barclays PLC now owns 119,571 shares of the financial services provider's stock valued at $4,653,000 after acquiring an additional 24,003 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of American Equity Investment Life by 2.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,059,836 shares of the financial services provider's stock valued at $41,249,000 after acquiring an additional 24,768 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of American Equity Investment Life by 1.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider's stock valued at $91,777,000 after acquiring an additional 32,542 shares in the last quarter. Institutional investors own 93.16% of the company's stock.
Get American Equity Investment Life alerts:American Equity Investment Life Stock Performance
NYSE:AEL traded down $1.38 on Thursday, hitting $36.62. The stock had a trading volume of 4,213 shares, compared to its average volume of 678,442. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 3.21 and a beta of 1.04. 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 business's 50-day simple moving average is $37.99 and its two-hundred day simple moving average is $38.03. American Equity Investment Life Holding has a 52-week low of $29.15 and a 52-week high of $44.49.
American Equity Investment Life (NYSE:AEL – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.27. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The firm had revenue of $121.40 million for the quarter, compared to analysts' expectations of $628.20 million. During the same period in the previous year, the firm earned $0.98 EPS. The business's quarterly revenue was down 88.7% on a year-over-year basis. As a group, research analysts predict that American Equity Investment Life Holding will post 3.78 earnings per share for the current year.Insider Activity at American Equity Investment Life
In related 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 stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president now owns 36,439 shares of the company's stock, valued at approximately $1,457,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have recently weighed in on AEL. Piper Sandler reduced their price target on American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, July 8th. Credit Suisse Group downgraded American Equity Investment Life from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $43.00 to $38.00 in a report on Friday, July 22nd. Raymond James lifted their price objective on American Equity Investment Life from $40.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 15th. Evercore ISI downgraded American Equity Investment Life from an "outperform" rating to an "in-line" rating and lifted their price objective for the stock from $42.00 to $44.00 in a report on Monday, August 15th. They noted that the move was a valuation call. Finally, Truist Financial lifted their price objective 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, American Equity Investment Life currently has an average rating of "Hold" and an average target price of $43.60.
About American Equity Investment Life
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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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