American Equity Investment Life Holding (NYSE:AEL) shares sold by New Jersey State Joint Pension Fund D


State of New Jersey Common Pension Fund D reduced its position in shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 15.9% in the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 67,536 shares of the financial services provider after selling 12,756 shares during the period. New Jersey State Joint Pension Fund D’s holdings in American Equity Investment Life were worth $2,695,000 when it was last filed with the SEC.

A number of other institutional investors and hedge funds also changed their positions in the company. Byrne Asset Management LLC increased its stake in American Equity Investment Life to 95.9% in Q1. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares last quarter. Strs Ohio acquired a new stake in American Equity Investment Life in Q4 worth $42,000. Covestor Ltd acquired a new stake in American Equity Investment Life in Q4 worth $61,000. Counterpoint Mutual Funds LLC acquired a new stake in American Equity Investment Life in Q1 worth $65,000. Finally, RK Asset Management LLC acquired a new stake in American Equity Investment Life in the 1st quarter valued at $181,000. 95.15% of the shares are currently held by institutional investors and hedge funds.

Life insurance of US equity investments trades up 1.8%

NYSE:AEL opened at $37.56 on Friday. American Equity Investment Life Holding has a 1-year low of $27.12 and a 1-year high of $44.49. The stock has a market capitalization of $3.50 billion, a price-earnings ratio of 5.08 and a beta of 1.10. The company has a fifty-day moving average of $37.59 and a 200-day moving average of $38.61. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly results on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing the consensus estimate of $0.95 ($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, versus a consensus estimate of $612.85 million. During the same period a year earlier, the company posted EPS of $0.43. The company’s revenue for the quarter decreased 84.6% compared to the same quarter last year. Stock analysts predict that American Equity Investment Life Holding will post earnings per share of 3.52 for the current year.

A Wall Street analyst gives his opinion

Several brokerages have weighed in on AEL recently. Evercore ISI lowered its price target on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating for the company in a Wednesday July 6 research note. Morgan Stanley lowered 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. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Piper Sandler lowered its price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, July 8 report. Finally, Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperform” rating to a “market performer” rating and lowered their price target for the stock from $43.00 to 41.00 $ in a report from Wednesday, July 13. Five analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Life profile of US equity investments

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

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



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