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Ziegler Capital Management LLC Has $829,000 Holdings in American Equity Investment Life Holding (NYSE:AEL)

Defense World ·  Oct 4, 2022 05:42

Ziegler Capital Management LLC boosted its holdings in American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,665 shares of the financial services provider's stock after buying an additional 669 shares during the quarter. Ziegler Capital Management LLC's holdings in American Equity Investment Life were worth $829,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AEL. SG Americas Securities LLC raised its position in American Equity Investment Life by 1,051.3% in the first quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider's stock valued at $1,394,000 after purchasing an additional 31,906 shares during the last quarter. Credit Suisse AG raised its position in American Equity Investment Life by 63.3% in the fourth quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider's stock valued at $4,580,000 after purchasing an additional 45,595 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in American Equity Investment Life in the first quarter valued at about $65,000. Profund Advisors LLC raised its position in American Equity Investment Life by 24.2% in the first quarter. Profund Advisors LLC now owns 11,441 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Zacks Investment Management bought a new position in American Equity Investment Life in the fourth quarter valued at about $2,708,000. 93.16% of the stock is owned by institutional investors and hedge funds.

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American Equity Investment Life Trading Up 1.6 %

Shares of AEL stock opened at $37.89 on Tuesday. The company has a market cap of $3.32 billion, a P/E ratio of 3.21 and a beta of 0.98. The stock has a 50 day simple moving average of $38.07 and a two-hundred day simple moving average of $37.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. American Equity Investment Life Holding has a fifty-two week low of $29.87 and a fifty-two week high of $44.49.

American Equity Investment Life (NYSE:AEL – Get Rating) last issued its earnings results on Monday, August 8th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. The business had revenue of $121.40 million during the quarter, compared to the consensus estimate of $628.20 million. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The firm's revenue for the quarter was down 88.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Research analysts forecast that American Equity Investment Life Holding will post 3.78 earnings per share for the current year.

Insiders Place Their Bets

In other American Equity Investment Life news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $40.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AEL has been the subject of several research reports. Truist Financial increased their target price on American Equity Investment Life from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, August 11th. Raymond James increased their target price on American Equity Investment Life from $40.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, August 15th. Piper Sandler lowered their price objective on American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, July 8th. Evercore ISI downgraded American Equity Investment Life from an "outperform" rating to an "in-line" rating and raised their price objective 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. Finally, Morgan Stanley raised 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 report on Wednesday, August 17th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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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