Meeder Asset Management Inc. Acquires New Stake in American Equity Investment Life Holding (NYSE:AEL)


Meeder Asset Management Inc. bought a new position in shares of American Equity Investment Life Holding (NYSE:AELGet a rating) in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The fund bought 2,504 shares of the financial services provider, valued at around $100,000.

A number of other major investors have also recently changed their stakes in the company. SG Americas Securities LLC increased its position in American Equity Investment Life shares by 1,051.3% during the first quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider worth $1,394,000 after buying 31,906 additional shares last quarter. Credit Suisse AG increased its stake in American Equity Investment Life by 63.3% during the fourth quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider valued at $4,580,000 after buying an additional 45,595 shares last quarter. Counterpoint Mutual Funds LLC acquired a new stock position in American Equity Investment Life during Q1 worth $65,000. First Trust Advisors LP increased its stake in American Equity Investment Life shares by 5.7% in the fourth quarter. First Trust Advisors LP now owns 153,928 shares of the financial services provider worth $5,991,000 after buying an additional 8,351 shares last quarter. Finally, Easterly Investment Partners LLC increased its stake in American Equity Investment Life by 16.8% during the fourth quarter. Easterly Investment Partners LLC now owns 271,120 shares of the financial services provider valued at $10,552,000 after buying an additional 39,074 shares last quarter. 95.15% of the shares are held by institutional investors and hedge funds.

Investing in U.S. Stocks Return on Life Stocks

AEL Stock opened at $39.80 on Monday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 3.37 and a beta of 1.06. The company has a debt ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50-day simple moving average of $37.29 and a 200-day simple moving average of $38.37. American Equity Investment Life Holding has a 52-week low of $27.12 and a 52-week high of $44.49.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly results on Monday, August 8. The financial services provider reported 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, compared to $628.20 million expected by analysts. During the same period of the previous year, the company posted EPS of $0.98. American Equity Investment Life’s revenue was down 88.7% year over year. Research analysts expect American Equity Investment Life Holding to post earnings per share of 3.73 for the current fiscal year.

A Wall Street analyst gives his opinion

A number of equity research analysts have weighed in on AEL shares. Evercore ISI downgraded shares of American Equity Investment Life from an “outperform” rating to an “in-line” rating and raised its price target for the company from $42.00 to $44.00 in a report Monday, August 15. They noted that the move was a review call. Truist Financial raised its price target on shares of American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a Thursday, August 11 research report. Credit Suisse Group downgraded American Equity Investment Life from an ‘outperform’ rating to a ‘neutral’ rating and cut its price target for the stock from $43.00 to $38.00 in a research note Friday, July 22. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday August 17. Finally, Keefe, Bruyette & Woods upgraded 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 research note from Wednesday, July 13. Six research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.60.

Insiders place their bets

In related news, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction that took place on Tuesday, August 9. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 36,439 shares of the company, valued at approximately $1,457,560. The sale was disclosed in an SEC filing, available at this link. Insiders own 1.59% 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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