Texas Teachers’ Retirement System increases stock position in American Equity Investment Life Holding (NYSE:AEL)


Teacher Retirement System of Texas increased its position in shares of American Equity Investment Life Holding (NYSE:AELGet a rating) by 4.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,965 shares of the financial services provider after purchasing an additional 776 shares during the period. The Teacher Retirement System of Texas holdings in American Equity Investment Life were worth $677,000 when it last filed with the SEC.

A number of other hedge funds have also recently increased or reduced their stakes in the company. The New York State Common Retirement Fund increased its position in American Equity Investment Life by 8.3% during the fourth quarter. The New York State Common Retirement Fund now owns 66,590 shares of the financial services provider worth $2,592,000 after acquiring an additional 5,093 shares during the period. Royce & Associates LP increased its position in American Equity Investment Life by 24.2% during the fourth quarter. Royce & Associates LP now owns 74,098 shares of the financial services provider worth $2,884,000 after acquiring an additional 14,456 shares during the period. American Century Companies Inc. increased its position in American Equity Investment Life by 2.7% during the fourth quarter. American Century Companies Inc. now owns 230,938 shares of the financial services provider worth $8,988,000 after acquiring an additional 6,082 shares during the period. 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 in the last quarter. Finally, ProShare Advisors LLC increased its position in American Equity Investment Life shares by 62.1% in the fourth quarter. ProShare Advisors LLC now owns 20,687 shares of the financial services provider valued at $804,000 after purchasing an additional 7,922 shares in the last quarter. 95.15% of the shares are held by hedge funds and other institutional investors.

Wall Street analysts predict growth

Several equity research analysts have recently released reports on AEL shares. 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. Raymond James raised his target price on shares of American Equity Investment Life from $40.00 to $48.00 and gave the stock an “outperform” rating in a Monday, August 15 research note. 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 rating. research Monday, August 15. They noted that the move was a review call. Credit Suisse Group downgraded shares of American Equity Investment Life from an “outperform” rating to a “neutral” rating and lowered its price target for the company from $43.00 to $38.00 in a research note from Friday, July 22. To finish, StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research note. Six equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, American Equity Investment Life currently has an average rating of “Hold” and an average price target of $43.60.

Insider buying and selling

In related news, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction dated 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 completion of 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 filing with the Securities & Exchange Commission, available at the SEC website. Insiders own 1.59% of the shares of the company.

American Equity Investment Life Stock down 1.2%

AEL Stock opened at $39.80 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt ratio of 0.15. American Equity Investment Life Holding has a 12-month low of $27.12 and a 12-month high of $44.49. The company’s 50-day moving average is $37.29 and its two-hundred-day moving average is $38.39. The stock has a market capitalization of $3.49 billion, a P/E ratio of 3.37 and a beta of 1.06.

Investment in American Life equities (NYSE:AELGet a rating) last released its quarterly earnings data on Monday, August 8. The financial services provider reported earnings per share of $0.98 for the quarter, beating consensus analyst estimates of $0.71 from $0.27. The company posted revenue of $121.40 million for the quarter, versus analyst estimates of $628.20 million. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. American Equity Investment Life’s quarterly revenue was down 88.7% year over year. During the same period last year, the company posted EPS of $0.98. Research analysts expect American Equity Investment Life Holding to post earnings per share of 3.73 for the current fiscal year.

Life profile of US equity investments

(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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