The Alaska State Department of Revenue reduced its stake in American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 1.4% during the first quarter, Holdings Channel reports. The fund held 57,490 shares of the financial services provider after selling 810 shares during the period. The Alaska State Department of Revenue’s holdings in American Equity Investment Life were worth $2,294,000 when it was last filed with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in AEL. West Bancorporation Inc. bought a new position in American Equity Investment Life in the fourth quarter, valued at approximately $22,212,000. Point72 Asset Management LP increased its stake in American Equity Investment Life by 1,183.3% in the fourth quarter. Point72 Asset Management LP now owns 598,010 shares of the financial services provider valued at $23,275,000 after acquiring an additional 551,410 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in American Equity Investment Life in the fourth quarter, valued at approximately $12,708,000. Lakewood Capital Management LP increased its stake in American Equity Investment Life by 8.5% in the fourth quarter. Lakewood Capital Management LP now owns 1,726,177 shares of the financial services provider valued at $67,183,000 after acquiring an additional 135,227 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its stake in American Equity Investment Life by 62.2% in the fourth quarter. Gilbert & Cook Inc. now owns 254,313 shares of the financial services provider valued at $9,898,000 after acquiring an additional 97,485 shares in the last quarter. Hedge funds and other institutional investors hold 95.15% of the company’s shares.

NYSE:AEL shares opened at $36.57 on Friday. The company’s fifty-day moving average price is $37.87 and its 200-day moving average price is $39.06. The company has a market capitalization of $3.40 billion, a price-earnings ratio of 4.95 and a beta of 1.09. American Equity Investment Life Holding has a one-year low of $27.12 and a one-year high of $44.49. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17.

American Equity Investment Life (NYSE:AEL – Get Rating) last released its quarterly results on Wednesday, May 4. The financial services provider reported EPS of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). The company posted revenue of $147.80 million in the quarter, versus a consensus estimate of $612.85 million. American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. American Equity Investment Life’s quarterly revenue was down 84.6% year over year. During the same period of the previous year, the company achieved EPS of $0.43. As a group, equity research analysts expect American Equity Investment Life Holding to post EPS of 3.91 for the current year.

In related news, Executive Vice Chairman Ronald James Grensteiner sold 9,188 shares in a trade on Tuesday, April 12. The shares were sold at an average price of $38.31, for a total transaction of $351,992.28. Following the transaction, the executive vice president now owns 89,039 shares of the company, valued at approximately $3,411,084.09. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 1.90% of the shares are held by insiders.

A number of research analysts have weighed in on AEL shares. StockNews.com upgraded American Equity Investment Life’s shares from a “buy” to a “hold” rating in a Friday, May 20 research note. Credit Suisse Group restated an “outperform” rating and set a price target of $43.00 on shares of American Equity Investment Life in a research note on Tuesday. Three research analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.60.

About American Equity Investment Life (Get an assessment)

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues index and fixed 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 advisers.

See also

Want to see which other hedge funds hold AEL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for American Equity Investment Life Holding (NYSE:AEL – Get Rating).

Institutional ownership by quarter for American Equity Investment Life (NYSE:AEL)



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