Shares of American Equity Investment Life Holding (NYSE:AEL) Acquired by Russell Investments Group Ltd.


Russell Investments Group Ltd. increased its position in shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 8.0% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The fund held 224,386 shares of the financial services provider after acquiring an additional 16,546 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of American Equity Investment Life worth $8,953,000 at the time of its last SEC filing.

A number of other hedge funds also changed their positions in the company. State Street Corp increased its holdings of American Equity Investment Life shares 1.7% in the fourth quarter. State Street Corp now owns 3,047,383 shares of the financial services provider valued at $118,604,000 after acquiring 49,812 additional shares in the last quarter. Goldman Sachs Group Inc. increased its holdings of American Equity Investment Life shares by 1.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider valued at $91,777,000 after buying 32,542 additional shares in the last quarter. Lakewood Capital Management LP increased its equity holding in American Equity Investment Life 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 in the last quarter. Northern Trust Corp increased its holdings of American Equity Investment Life shares 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 in the last quarter. Finally, Geode Capital Management LLC increased its equity stake in American Equity Investment Life by 3.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s shares.

Life insurance of US equity investments trades up 0.5%

NYSE:AEL opened at $36.12 on Friday. The company has a market capitalization of $3.36 billion, a PE ratio of 4.89 and a beta of 1.06. The stock has a fifty-day moving average price of $37.29 and a 200-day moving average price of $38.39. American Equity Investment Life Holding has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.11.

Investment in American Life stocks (NYSE:AELGet a rating) last released its quarterly results 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 posted a net margin of 26.35% and a return on equity of 7.26%. The company posted revenue of $147.80 million in the quarter, compared to analyst estimates of $612.85 million. In the same quarter a year earlier, the company earned $0.43 per share. The company’s quarterly revenue was down 84.6% year over year. Sell-side analysts expect American Equity Investment Life Holding to post earnings per share of 3.52 for the current fiscal year.

A Wall Street analyst gives his opinion

Several equity research analysts have recently commented on AEL shares. Piper Sandler cut its 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. Morgan Stanley cut its price target on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 report. Credit Suisse Group downgraded American Equity Investment Life from an ‘outperform’ rating to a ‘neutral’ rating and lowered its price target for the stock from $43.00 to $38.00 in a research report Friday, July 22. Evercore ISI lowered 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 research report. Finally, Keefe, Bruyette & Woods downgraded 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 Wednesday, July 13 research report. Five analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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