Nisa Investment Advisors LLC Acquires New Stake in American Equity Investment Life Holding (NYSE:AEL)


Nisa Investment Advisors LLC acquired a new position in American Equity Investment Life Holding (NYSE:AELGet a rating) in Q1, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,285 shares of the financial services provider, valued at approximately $211,000.

Several other hedge funds have also recently added or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new position in American Equity Investment Life in the first quarter worth approximately $65,000. Stratos Wealth Partners LTD. bought a new position in American Equity Investment Life in the first quarter worth approximately $241,000. Meritage Investment Management increased its position in American Equity Investment Life shares by 8.9% during the first quarter. Meritage Investment Management now owns 8,004 shares of the financial services provider worth $319,000 after purchasing an additional 657 shares during the period. Truist Financial Corp bought a new position in shares of American Equity Investment Life during the first quarter for a value of $226,000. Finally, Strs Ohio increased its position in American Equity Investment Life shares by 3,154.5% during the first quarter. Strs Ohio now owns 35,800 shares of the financial services provider worth $1,428,000 after purchasing an additional 34,700 shares during the period. 95.15% of the shares are currently held by hedge funds and other institutional investors.

American Equity Investment Life Stock up 2.3%

Investing in American stocks Life stocks opened at $37.03 on Thursday. American Equity Investment Life Holding has a 12-month low of $27.12 and a 12-month high of $44.49. The stock has a 50-day moving average of $37.60 and a two-hundred-day moving average of $38.71. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.11. The stock has a market capitalization of $3.45 billion, a price-earnings ratio of 5.01 and a beta of 1.10.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly earnings data on Wednesday, May 4. The financial services provider reported earnings per share of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($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 for the quarter, versus analyst estimates of $612.85 million. In the same period a year earlier, the company posted earnings per share of $0.43. The company’s revenue decreased by 84.6% compared to the same quarter last year. As a group, research analysts expect American Equity Investment Life Holding to post earnings per share of 3.57 for the current year.

Analyst upgrades and downgrades

Several research analysts have recently commented on AEL’s actions. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Credit Suisse Group downgraded American Equity Investment Life from an ‘outperforming’ rating to a ‘neutral’ rating and lowered its target price for the company from $43.00 to $38.00 in a Friday, July 22 report. . Evercore ISI cut 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 report. Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperforming” rating to a “market performance” rating and lowered their target price for the company from $43.00 to $41.00 in a report Wednesday, July 13. Finally, Piper Sandler lowered her price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 report. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.

Further reading

Want to see which other hedge funds hold AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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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