Victory Capital Management Inc. Reduces Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Posted by on Aug 8th, 2023

Victory Capital Management Inc. lowered its position in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,413 shares of the financial services provider’s stock after selling 1,079 shares during the quarter. Victory Capital Management Inc.’s holdings in American Equity Investment Life were worth $1,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AEL. Coppell Advisory Solutions Corp. purchased a new position in American Equity Investment Life during the fourth quarter worth about $29,000. Lansing Street Advisors acquired a new stake in shares of American Equity Investment Life during the first quarter worth about $39,000. Gladius Capital Management LP acquired a new stake in shares of American Equity Investment Life during the fourth quarter worth about $43,000. CoreCap Advisors LLC acquired a new stake in shares of American Equity Investment Life during the fourth quarter worth about $48,000. Finally, Parallel Advisors LLC lifted its position in shares of American Equity Investment Life by 450.2% during the first quarter. Parallel Advisors LLC now owns 2,322 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

American Equity Investment Life Stock Down 0.8 %

AEL stock opened at $53.29 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.33. American Equity Investment Life Holding has a twelve month low of $28.05 and a twelve month high of $54.30. The company’s 50 day moving average is $48.58 and its two-hundred day moving average is $43.12. The stock has a market cap of $4.15 billion, a P/E ratio of 11.08 and a beta of 0.96.

American Equity Investment Life (NYSE:AEL – Get Free Report) last announced its earnings results on Tuesday, May 9th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.32. The business had revenue of $662.50 million for the quarter, compared to analyst estimates of $626.02 million. American Equity Investment Life had a net margin of 25.84% and a return on equity of 12.84%. The company’s revenue for the quarter was up 348.2% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Research analysts expect that American Equity Investment Life Holding will post 6.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AEL shares. Morgan Stanley reduced their price target on shares of American Equity Investment Life from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th. Truist Financial cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating and raised their target price for the company from $49.00 to $55.00 in a report on Friday, July 14th. Piper Sandler raised their target price on shares of American Equity Investment Life from $39.00 to $44.00 in a report on Wednesday, May 10th. Royal Bank of Canada cut shares of American Equity Investment Life from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $50.00 to $55.00 in a report on Wednesday, July 5th. Finally, Raymond James cut shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat, American Equity Investment Life has a consensus rating of “Hold” and an average price target of $47.38.

Read Our Latest Research Report on American Equity Investment Life

American Equity Investment Life Company Profile

(Free Report)

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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Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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