AE Wealth Management LLC buys 2,763 shares of American Equity Investment Life Holding (NYSE:AEL)


AE Wealth Management LLC increased its stake in American Equity Investment Life Holding (NYSE:AELGet a rating) by 47.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund held 8,532 shares of the financial services provider after buying an additional 2,763 shares during the quarter. AE Wealth Management LLC’s holdings in American Equity Investment Life were worth $341,000 when it last filed with the SEC.

Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Meritage Investment Management increased its holdings of American Equity Investment Life shares by 5.4% in the fourth quarter. Meritage Investment Management now owns 7,347 shares of the financial services provider worth $286,000 after purchasing an additional 376 shares during the period. Profund Advisors LLC increased its position in American Equity Investment Life shares by 4.3% during the fourth quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider worth $358,000 after buying 378 additional shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of American Equity Investment Life by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider valued at $1,278,000 after purchasing 428 additional shares during the period. Byrne Asset Management LLC increased its holdings of American Equity Investment Life shares by 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider worth $38,000 after buying an additional 470 shares in the last quarter. Finally, Strs Ohio bought a new position in American Equity Investment Life in Q4 for a value of around $42,000. 95.15% of the shares are held by institutional investors.

ALE opened at $36.17 on Tuesday. The company has a market capitalization of $3.37 billion, a PE ratio of 4.95 and a beta of 1.10. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17. The company’s 50-day moving average is $37.67 and its two-hundred-day moving average is $39.07. American Equity Investment Life Holding has a 1-year low of $27.12 and a 1-year high of $44.49.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly earnings data on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company posted revenue of $147.80 million in the quarter, compared to $612.85 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.43. The company’s quarterly revenue was down 84.6% year over year. As a group, sell-side analysts expect American Equity Investment Life Holding to post year-to-date EPS of 3.91.

A number of stock analysts have commented on the stock. Evercore ISI lowered its price target on American Equity Investment Life shares from $44.00 to $42.00 and set an “outperform” rating on the stock in a Wednesday July 6 research note. Morgan Stanley cut its price target on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating on the stock in a Wednesday, July 6 report. Credit Suisse Group reaffirmed an “outperform” rating and set a target price of $43.00 on shares of American Equity Investment Life in a Tuesday, June 28 research report. StockNews.com downgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20 research report. Finally, Piper Sandler lowered her price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a report released Friday. Three research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat.com, American Equity Investment Life currently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

About American Equity Investment Life (Get a rating)

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.

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



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