Assetmark Inc. Has $947,000 Position in American Equity Investment Life Holding (NYSE:AEL)

Posted by Defense World Staff on Aug 11th, 2023

Assetmark Inc. lifted its holdings in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,954 shares of the financial services provider’s stock after acquiring an additional 715 shares during the period. Assetmark Inc.’s holdings in American Equity Investment Life were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Capital Advisors Wealth Management LLC raised its position in shares of American Equity Investment Life by 0.9% in 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 in the last quarter. Meritage Portfolio Management increased its position in American Equity Investment Life by 3.6% in the 4th quarter. Meritage Portfolio Management now owns 8,522 shares of the financial services provider’s stock valued at $389,000 after buying an additional 299 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in American Equity Investment Life by 1.3% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 35,638 shares of the financial services provider’s stock valued at $1,626,000 after buying an additional 467 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in American Equity Investment Life by 0.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 61,836 shares of the financial services provider’s stock valued at $2,256,000 after buying an additional 472 shares in the last quarter. Finally, Captrust Financial Advisors increased its position 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 buying an additional 483 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

American Equity Investment Life Price Performance

Shares of NYSE AEL opened at $53.34 on Friday. American Equity Investment Life Holding has a twelve month low of $28.05 and a twelve month high of $54.30. The stock’s 50 day moving average price is $49.11 and its 200-day moving average price is $43.25. The company has a market capitalization of $4.16 billion, a PE ratio of 9.82 and a beta of 0.96. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.33.

American Equity Investment Life (NYSE:AEL – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The financial services provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.03). American Equity Investment Life had a net margin of 18.55% and a return on equity of 14.98%. The firm had revenue of $851.60 million during the quarter, compared to analysts’ expectations of $646.06 million. During the same quarter in the previous year, the company posted $0.98 EPS. American Equity Investment Life’s revenue for the quarter was up 600.3% on a year-over-year basis. On average, equities analysts anticipate that American Equity Investment Life Holding will post 6.48 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James lowered American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, June 28th. StockNews.com began coverage on American Equity Investment Life in a research note on Tuesday. They set a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of American Equity Investment Life in a research note on Tuesday. Truist Financial downgraded American Equity Investment Life from a “buy” rating to a “hold” rating and lifted their price target for the company from $49.00 to $55.00 in a research note on Friday, July 14th. Finally, Piper Sandler lifted their price target on American Equity Investment Life from $39.00 to $44.00 in a research note on Wednesday, May 10th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, American Equity Investment Life presently has a consensus rating of “Hold” and an average price target of $47.38.

Check Out Our Latest Research Report on AEL

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.

Assetmark Inc. Has $947,000 Position in American Equity Investment Life Holding (NYSE:AEL)

American Equity Investment Life Price Performance

Analyst Ratings Changes

American Equity Investment Life Company Profile

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