Oregon Public Employees Retirement Fund Reduces Stake in American Equity Investment Life Holding (NYSE:AEL)


Oregon Public Employees Retirement Fund reduced its position in shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 1.4% in the first quarter, Participation channel reports. The company held 31,195 shares of the financial services provider after selling 449 shares during the period. The Oregon Public Employees Retirement Fund’s holdings in American Equity Investment Life were worth $1,245,000 at the end of the last quarter.

A number of other institutional investors have also recently increased or reduced their stake in the stock. State Street Corp increased its position in American Equity Investment Life by 1.7% in the 4th quarter. State Street Corp now owns 3,047,383 shares of the financial services provider worth $118,604,000 after acquiring 49,812 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in American Equity Investment Life by 1.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider worth $91,777,000 after acquiring 32,542 additional shares last quarter. Lakewood Capital Management LP increased its position in American Equity Investment Life shares by 8.5% in the fourth quarter. Lakewood Capital Management LP now owns 1,726,177 shares of the financial services provider valued at $67,183,000 after buying an additional 135,227 shares last quarter. Northern Trust Corp raised its position in American Equity Investment Life shares by 1.4% in the fourth quarter. Northern Trust Corp now owns 1,495,023 shares of the financial services provider valued at $58,186,000 after buying an additional 20,325 shares last quarter. Finally, Geode Capital Management LLC increased its position in American Equity Investment Life shares by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,399,612 shares of the financial services provider valued at $54,472,000 after purchasing an additional 48,909 shares last quarter. 95.15% of the shares are currently held by hedge funds and other institutional investors.

A number of stock analysts have published reports on the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a price target of $43.00 on shares of American Equity Investment Life in a research report on Tuesday, June 28. Piper Sandler cut its target price on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. 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 research report. Finally, Evercore ISI lowered its price target on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating on the stock in a Wednesday, July 6 research report. Three investment analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat data, American Equity Investment Life currently has an average rating of “Moderate Buy” and an average price target of $42.60.

Shares of ALE opened at $36.17 on Tuesday. The company has a market capitalization of $3.37 billion, a P/E ratio of 4.89 and a beta of 1.10. The stock has a fifty-day moving average price of $37.67 and a 200-day moving average price of $39.07. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17. American Equity Investment Life Holding has a 12-month low of $27.12 and a 12-month high of $44.49.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly earnings data on Wednesday, May 4. The financial services provider reported EPS 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 a consensus estimate of $612.85 million. In the same quarter of the previous year, the company had earned earnings per share of $0.43. American Equity Investment Life’s quarterly revenue was down 84.6% from the same quarter last year. As a group, research analysts expect American Equity Investment Life Holding to post earnings per share of 3.91 for the current year.

About American Equity Investment Life (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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