First Hawaiian Bank sells 3,534 shares of American Equity Investment Life Holding (NYSE:AEL)


First Hawaiian Bank reduced its stake in American Equity Investment Life Holding (NYSE:AELGet a rating) by 19.6% in the 1st quarter, Participation channel reports. The fund held 14,496 shares of the financial services provider after selling 3,534 shares during the period. First Hawaiian Bank’s holdings in American Equity Investment Life were worth $579,000 when it last filed with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also increased or reduced their stake in the company. Byrne Asset Management LLC increased its position in American Equity Investment Life by 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider worth $38,000 after acquiring an additional 470 shares during the period. Strs Ohio bought a new position in American Equity Investment Life in the fourth quarter for a value of around $42,000. Covestor Ltd bought a new position in American Equity Investment Life in the fourth quarter worth approximately $61,000. Pictet Asset Management SA bought a new position in American Equity Investment Life in the fourth quarter for a value of approximately $210,000. Finally, Advisor Partners LLC acquired a new position in American Equity Investment Life in the fourth quarter worth approximately $225,000. Institutional investors and hedge funds own 95.15% of the company’s shares.

Separately, StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Three research analysts rated the stock with a hold rating and six gave the company a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.67.

Shares of AEL Stock opened at $37.10 on Thursday. The company has a market capitalization of $3.45 billion, a price-earnings ratio of 5.02 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’s fifty-day moving average price is $38.18 and its 200-day moving average price is $39.02. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17.

Investment in American Life stocks (NYSE:AELGet a rating) last reported results on Wednesday, May 4. The financial services provider reported earnings per share of $0.92 for the quarter, missing the consensus estimate of $0.95 per ($0.03). American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. The company posted revenue of $147.80 million for the quarter, compared to $612.85 million expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.43. The company’s revenue was down 84.6% year over year. Equity research analysts expect American Equity Investment Life Holding to post earnings per share of 3.91 for the current fiscal year.

In other news from American Equity Investment Life, EVP Ronald James Grensteiner sold 9,188 shares of American Equity Investment Life in a trade on Tuesday, April 12. The shares were sold at an average price of $38.31, for a total value of $351,992.28. Following completion of the transaction, the executive vice president now directly owns 89,039 shares of the company, valued at approximately $3,411,084.09. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 1.90% of the shares of the company.

American Equity Investment Life Insurance Company Profile (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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