Principal Financial Group Inc. sells 4,861 shares of American Equity Investment Life Holding (NYSE:AEL)


Principal Financial Group Inc. reduced its stake in the shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 0.9% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The company held 550,438 shares of the financial services provider after selling 4,861 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of American Equity Investment Life worth $21,968,000 at the end of the most recent reporting period.

Other hedge funds have also increased or reduced their stakes in the company. SG Americas Securities LLC increased its position in American Equity Investment Life by 1,051.3% in the 1st quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider valued at $1,394,000 after purchasing an additional 31,906 shares during the period. Credit Suisse AG increased its position 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 purchasing an additional 45,595 shares during the period. Counterpoint Mutual Funds LLC bought a new position in American Equity Investment Life during Q1 worth $65,000. First Trust Advisors LP increased its position in American Equity Investment Life by 5.7% during the fourth quarter. First Trust Advisors LP now owns 153,928 shares of the financial services provider valued at $5,991,000 after purchasing an additional 8,351 shares during the period. Finally, Easterly Investment Partners LLC increased its position in American Equity Investment Life shares by 16.8% in the 4th quarter. Easterly Investment Partners LLC now owns 271,120 shares of the financial services provider worth $10,552,000 after purchasing an additional 39,074 shares during the period. 95.15% of the shares are held by hedge funds and other institutional investors.

Insider Buying and Selling at American Equity Investment Life

In other news, EVP Jeffrey D. Lorenzo sold 25,000 shares in a trade that took place on Tuesday, August 9. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now owns 36,439 shares of the company, valued at approximately $1,457,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Insiders of the company own 1.59% of the shares of the company.

Life Price Performance of US Equity Investments

ALE opened at $40.00 on Thursday. The company has a debt ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $3.51 billion, a P/E ratio of 3.38 and a beta of 1.06. The company’s 50-day simple moving average is $37.28 and its two-hundred-day simple moving average is $38.42. 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 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. The company posted revenue of $121.40 million for the quarter, compared to $628.20 million expected by analysts. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company’s revenue for the quarter was down 88.7% from the same quarter last year. In the same quarter of the previous year, the company had achieved EPS of $0.98. As a group, analysts predict American Equity Investment Life Holding will post EPS of 3.71 for the current year.

Analysts set new price targets

A number of analysts have weighed in on the stock recently. StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Truist Financial raised its target price 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 shares of American Equity Investment Life from an “outperform” rating to a “neutral” rating and reduced its target price for the stock from $43.00 to $38.00 in a Friday, July 22 research report. Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperform” rating to a “market performance” rating and reduced their target price for the stock from $43.00 to 41, $00 in a Wednesday July 13 research report. Finally, Piper Sandler cut her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday 8 research report. July. Six research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.60.

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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