American Equity Investment Life Holding (NYSE:AEL) shares sold by Texas Permanent School Fund


Texas Permanent School Fund reduced its holdings in American Equity Investment Life Holding (NYSE:AELGet an assessment) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The company held 58,425 shares of the financial services provider after selling 1,198 shares during the quarter. Texas Permanent School Fund held approximately 0.06% of American Equity Investment Life worth $2,332,000 when last filed with the SEC.

A number of other institutional investors have also recently bought and sold shares of the company. IndexIQ Advisors LLC acquired a new position in American Equity Investment Life in the first quarter worth $407,000. Retireful LLC acquired a new position in American Equity Investment Life in the first quarter worth $643,000. Russell Investments Group Ltd. increased its holdings of American Equity Investment Life shares by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 224,386 shares of the financial services provider valued at $8,953,000 after acquiring an additional 16,546 shares last quarter. Harvest Investment Services LLC purchased a new stake in shares of American Equity Investment Life in the first quarter, valued at approximately $326,000. Finally, SG Americas Securities LLC increased its equity stake 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 valued at $1,394,000 after acquiring 31,906 additional shares last quarter. 95.15% of the shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

Several brokerages have weighed in on AEL recently. StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Credit Suisse Group downgraded shares of American Equity Investment Life from an ‘outperform’ rating to a ‘neutral’ rating and lowered its target price for the company from $43.00 to $38.00 in a report Friday, July 22. 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 report. Morgan Stanley lowered its target price on shares of 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. Finally, Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperform” rating to a “market performer” rating and lowered its target price for the company from $43.00 to $41. $.00 in a Wednesday July 13 report. Five research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

American Equity Investment Life Stock up 2.9%

AEL Stock opened at $42.11 on Thursday. American Equity Investment Life Holding has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a market capitalization of $3.92 billion, a P/E ratio of 3.56 and a beta of 1.06. The company has a current ratio of 0.16, a quick ratio of 0.17 and a debt ratio of 0.15. The company’s 50-day moving average price is $37.23 and its 200-day moving average price is $38.38.

Investment in American Life stocks (NYSE:AELGet an assessment) last announced its quarterly results on Monday, August 8. The financial services provider reported earnings per share (EPS) of $0.98 for the quarter, beating the consensus estimate of $0.71 by $0.27. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company posted revenue of $121.40 million for the quarter, versus a consensus estimate of $628.20 million. In the same quarter a year earlier, the company earned $0.98 per share. The company’s revenue for the quarter decreased 88.7% compared to the same quarter last year. On average, research analysts expect American Equity Investment Life Holding to post earnings per share of 3.52 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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