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Strs Ohio boosted its holdings in shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 3,154.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 35,800 shares of the financial services provider’s stock after buying an additional 34,700 shares during the period. Strs Ohio’s holdings in American Equity Investment Life were worth $1,428,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AEL. Byrne Asset Management LLC raised its position in American Equity Investment Life by 95.9% during the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider’s stock valued at $38,000 after buying an additional 470 shares during the period. Covestor Ltd acquired a new position in American Equity Investment Life during the fourth quarter valued at $61,000. RK Asset Management LLC acquired a new position in American Equity Investment Life during the first quarter valued at $181,000. Pictet Asset Management SA acquired a new position in American Equity Investment Life in the 4th quarter worth about $210,000. Finally, Advisor Partners LLC acquired a new position in American Equity Investment Life in the 4th quarter worth about $225,000. 95.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on AEL shares. Morgan Stanley dropped their target price on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 6th. Evercore ISI dropped their target price on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Piper Sandler dropped their target price on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. StockNews.com lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $43.00 price target on shares of American Equity Investment Life in a research note on Tuesday, June 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, American Equity Investment Life currently has a consensus rating of “Moderate Buy” and an average price target of $42.60.
AEL opened at $36.09 on Wednesday. The stock has a 50-day moving average of $37.64 and a 200-day moving average of $39.05. American Equity Investment Life Holding has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a market cap of $3.36 billion, a PE ratio of 4.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17.
American Equity Investment Life (NYSE:AEL – Get Rating) last announced its earnings results on Wednesday, May 4th. The financial services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.03). American Equity Investment Life had a net margin of 26.35% and a return on equity of 7.26%. The business had revenue of $147.80 million for the quarter, compared to the consensus estimate of $612.85 million. During the same quarter in the previous year, the company earned $0.43 EPS. American Equity Investment Life’s revenue for the quarter was down 84.6% compared to the same quarter last year. On average, research analysts predict that American Equity Investment Life Holding will post 3.91 earnings per share for the current year.
About American Equity Investment Life (Get Rating)
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and 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 advisors.
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