Truist Financial Corp Acquires New Stakes in American Equity Investment Life Holding (NYSE:AEL)


Truist Financial Corp has acquired a new stake in American Equity Investment Life Holding (NYSE:AELGet a rating) in the first trimester, Participation channel reports. The institutional investor purchased 5,675 shares of the financial services provider, valued at approximately $226,000.

A number of other big investors also changed their AEL holdings. Byrne Asset Management LLC increased its stake in American Equity Investment Life shares to 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares last quarter. Strs Ohio acquired a new stock position in American Equity Investment Life in the fourth quarter worth $42,000. Covestor Ltd acquired a new position in shares of American Equity Investment Life in the fourth quarter worth $61,000. RK Asset Management LLC acquired a new position in shares of American Equity Investment Life in the first quarter worth $181,000. Finally, Pictet Asset Management SA acquired in the fourth quarter a new position in shares of American Equity Investment Life worth $210,000. 95.15% of the shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

Several research companies have published reports on AEL. 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 note 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 note. Piper Sandler lowered 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 research note. Morgan Stanley lowered 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 research note. 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 research note from Wednesday, July 13. Five research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Investing in U.S. Stocks Return on Life Stocks

Shares of NYSE:AEL opened at $37.56 on Friday. 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 market capitalization of $3.50 billion, a PE ratio of 5.08 and a beta of 1.10. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. The company has a fifty-day moving average of $37.59 and a 200-day moving average of $38.61.

Investment in American Life equities (NYSE:AELGet a rating) last released its quarterly results on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing the consensus estimate of $0.95 ($0.03). The company posted revenue of $147.80 million in the quarter, versus a consensus estimate of $612.85 million. American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. American Equity Investment Life’s revenue was down 84.6% year over year. In the same quarter of the previous year, the company had achieved EPS of $0.43. On average, equity research analysts expect American Equity Investment Life Holding to post EPS of 3.52 for the current fiscal year.

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.

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Institutional ownership by quarter for American Equity Investment Life (NYSE:AEL)



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