Zurcher Kantonalbank Zurich Cantonalbank buys 1,427 shares of American Equity Investment Life Holding (NYSE:AEL)


Zurcher Kantonalbank Zurich Cantonalbank increased its stake in American Equity Investment Life Holding (NYSE:AELGet a rating) by 12.9% in the first quarter, according to the company in its latest 13F filing with the SEC. The company held 12,466 shares of the financial services provider after purchasing an additional 1,427 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American Equity Investment Life amounted to $498,000 at the end of the last reporting period.

Several other hedge funds also changed their AEL holdings. Byrne Asset Management LLC increased its stake in American Equity Investment Life to 95.9% in Q1. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares in the last quarter. Strs Ohio acquired a new stake in shares of American Equity Investment Life in the fourth quarter worth $42,000. Covestor Ltd acquired a new stake in American Equity Investment Life in the fourth quarter worth $61,000. RK Asset Management LLC bought a new stock position in American Equity Investment Life during the first quarter for a value of approximately $181,000. Finally, Pictet Asset Management SA bought a new position in shares of American Equity Investment Life during the fourth quarter for a value of approximately $210,000. 95.15% of the shares are held by hedge funds and other institutional investors.

ALE opened at $34.03 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.11. The stock has a market capitalization of $3.17 billion, a PE ratio of 4.60 and a beta of 1.10. American Equity Investment Life Holding has a 1-year low of $27.12 and a 1-year high of $44.49. The company has a 50-day moving average price of $37.62 and a two-hundred-day moving average price of $39.03.

Investment in American Life equities (NYSE:AELGet a rating) last released its quarterly results on Wednesday, May 4. The financial services provider reported EPS of $0.92 for the quarter, missing the consensus estimate 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 analyst estimates of $612.85 million. In the same quarter of the previous year, the company achieved EPS of $0.43. The company’s quarterly revenue was down 84.6% from the same quarter last year. On average, research analysts predict that American Equity Investment Life Holding will post 3.72 EPS for the current year.

A number of research companies have recently published reports on AEL. Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperforming” rating to a “market performance” rating and lowered their price target for the company from $43.00 to 41, $00 in a research report Wednesday. Evercore ISI cut 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. Credit Suisse Group restated an “outperform” rating and set a price target of $43.00 on shares of American Equity Investment Life in a Tuesday, June 28 research report. Morgan Stanley lowered its price target on American Equity Investment Life shares from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 research note. To finish, StockNews.com cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Four analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.50.

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.

Recommended Stories

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)



Get news and reviews for American Equity Investment Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for American Equity Investment Life and related companies with MarketBeat.com’s FREE daily email newsletter.

Comments are closed.