American Equity Investment Life Holding (NYSE:AEL) shares sold by Envestnet Asset Management Inc.


Envestnet Asset Management Inc. reduced its stake in the shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 3.8% in Q1, according to its latest 13F filing with the Securities and Exchange Commission. The fund held 37,179 shares of the financial services provider after selling 1,471 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American Equity Investment Life were worth $1,484,000 at the end of the most recent reporting period.

Other large investors have also changed their stake in the company. The New York State Common Retirement Fund increased its stake in American Equity Investment Life by 8.3% in the fourth quarter. The New York State Common Retirement Fund now owns 66,590 shares of the financial services provider valued at $2,592,000 after acquiring 5,093 additional shares in the last quarter. Royce & Associates LP increased its stake in American Equity Investment Life by 24.2% during the fourth quarter. Royce & Associates LP now owns 74,098 shares of the financial services provider worth $2,884,000 after buying an additional 14,456 shares in the last quarter. American Century Companies Inc. increased its position in American Equity Investment Life by 2.7% during the fourth quarter. American Century Companies Inc. now owns 230,938 shares of the financial services provider worth $8,988,000 after purchasing an additional 6,082 shares during the period. Northern Trust Corp increased its stake in American Equity Investment Life by 1.4% in the fourth quarter. Northern Trust Corp now owns 1,495,023 shares of the financial services provider valued at $58,186,000 after buying an additional 20,325 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings of American Equity Investment Life shares by 62.1% in the fourth quarter. ProShare Advisors LLC now owns 20,687 shares of the financial services provider valued at $804,000 after acquiring an additional 7,922 shares during the period. Institutional investors and hedge funds own 95.15% of the company’s shares.

Insider activity

In related news, EVP Jeffrey D. Lorenzo sold 25,000 shares of American Equity Investment Life in a trade that took place on Tuesday, August 9. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the executive vice president now directly owns 36,439 shares of the company, valued at approximately $1,457,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. Insiders of the company own 1.59% of the shares of the company.

Analysts set new price targets

AEL has been the subject of a number of recent research reports. Truist Financial raised its price target on shares of American Equity Investment Life from $45.00 to $51.00 and gave the company a “buy” rating in a Thursday, August 11 report. Piper Sandler lowered its price target on American Equity Investment Life from $44.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, July 8. Evercore ISI upgraded American Equity Investment Life from an “outperform” rating to an “in line” rating and raised its price target for the stock from $42.00 to $44.00 in a research report Monday, August 15. They noted that the move was a review call. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperform” rating to a “market performer” rating and reduced their price target for the stock from $43.00 to 41, $00 in a Wednesday July 13 research note. Six investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.60.

Investing in U.S. Stocks Return on Life Stocks

NYSE AEL opened at $39.80 on Friday. The company has a 50-day moving average price of $37.29 and a 200-day moving average price of $38.39. The company has a market capitalization of $3.49 billion, a P/E ratio of 3.37 and a beta of 1.06. American Equity Investment Life Holding has a 1-year low of $27.12 and a 1-year high of $44.49. The company has a debt ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16.

Investment in American Life equities (NYSE:AELGet a rating) last announced its quarterly results on Monday, August 8. The financial services provider reported earnings per share of $0.98 for the quarter, beating consensus analyst estimates of $0.71 from $0.27. The company posted revenue of $121.40 million in the quarter, compared to $628.20 million expected by analysts. American Equity Investment Life achieved a return on equity of 8.22% and a net margin of 61.05%. The company’s revenue for the quarter was down 88.7% year over year. In the same quarter last year, the company posted earnings per share of $0.98. Sell-side analysts expect American Equity Investment Life Holding to post EPS of 3.73 for the current fiscal year.

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 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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