Los Angeles Capital Management LLC boosted its position in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 14.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,635 shares of the financial services provider’s stock after buying an additional 1,511 shares during the quarter. Los Angeles Capital Management LLC’s holdings in American Equity Investment Life were worth $425,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Capital Advisors Wealth Management LLC increased its holdings in shares of American Equity Investment Life by 0.9% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 32,728 shares of the financial services provider’s stock worth $1,493,000 after acquiring an additional 292 shares during the last quarter. Meritage Portfolio Management increased its holdings in shares of American Equity Investment Life by 3.6% during the 4th quarter. Meritage Portfolio Management now owns 8,522 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 299 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of American Equity Investment Life by 1.3% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 35,638 shares of the financial services provider’s stock worth $1,626,000 after acquiring an additional 467 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of American Equity Investment Life by 0.8% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 61,836 shares of the financial services provider’s stock worth $2,256,000 after acquiring an additional 472 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in American Equity Investment Life by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 14,663 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 483 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on AEL shares. Truist Financial downgraded American Equity Investment Life from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $55.00 in a research report on Friday, July 14th. Morgan Stanley cut their target price on American Equity Investment Life from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. Raymond James downgraded American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, June 28th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of American Equity Investment Life in a research report on Tuesday. Finally, Piper Sandler upped their price objective on American Equity Investment Life from $39.00 to $44.00 in a research report on Wednesday, May 10th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.38.
American Equity Investment Life Price Performance
Shares of AEL opened at $53.02 on Wednesday. American Equity Investment Life Holding has a 12-month low of $28.05 and a 12-month high of $54.30. The business has a 50-day simple moving average of $48.83 and a two-hundred day simple moving average of $43.18. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.33. The stock has a market cap of $4.13 billion, a PE ratio of 11.02 and a beta of 0.96.
American Equity Investment Life (NYSE:AEL – Get Free Report) last issued its earnings results on Monday, August 7th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.03). American Equity Investment Life had a return on equity of 12.84% and a net margin of 25.84%. The firm had revenue of $851.60 million during the quarter, compared to analyst estimates of $646.06 million. During the same period in the previous year, the company earned $0.98 EPS. American Equity Investment Life’s revenue for the quarter was up 600.3% on a year-over-year basis. Analysts anticipate that American Equity Investment Life Holding will post 6.48 earnings per share for the current fiscal year.
American Equity Investment Life Company Profile
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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