American Equity Investment Life Holding (NYSE:AEL) Shares Sold by Great Lakes Advisors LLC

Posted by Defense World Staff on Aug 20th, 2023

Great Lakes Advisors LLC trimmed its position in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 61.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,818 shares of the financial services provider’s stock after selling 139,938 shares during the quarter. Great Lakes Advisors LLC owned about 0.11% of American Equity Investment Life worth $3,241,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of American Equity Investment Life by 0.4% during the 1st quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after purchasing an additional 49,702 shares during the last quarter. Macquarie Group Ltd. boosted its stake in American Equity Investment Life by 1.7% during the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock worth $192,109,000 after buying an additional 85,531 shares during the period. State Street Corp increased its position in shares of American Equity Investment Life by 4.7% during the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock valued at $127,313,000 after acquiring an additional 142,611 shares during the last quarter. Invesco Ltd. raised its stake in shares of American Equity Investment Life by 12.0% in the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock valued at $73,278,000 after acquiring an additional 196,589 shares during the period. Finally, Barclays PLC raised its stake in shares of American Equity Investment Life by 5,908.2% in the 4th quarter. Barclays PLC now owns 1,793,691 shares of the financial services provider’s stock valued at $81,829,000 after acquiring an additional 1,763,837 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

American Equity Investment Life Stock Performance

Shares of AEL opened at $52.80 on Friday. American Equity Investment Life Holding has a 1 year low of $28.05 and a 1 year high of $54.30. The stock has a market capitalization of $4.13 billion, a PE ratio of 9.72 and a beta of 0.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50-day simple moving average of $50.75 and a 200-day simple moving average of $43.57.

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 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 15.52%. The firm had revenue of $851.60 million during the quarter, compared to analyst estimates of $646.06 million. During the same period last year, the business earned $0.98 EPS. The firm’s revenue was up 600.3% compared to the same quarter last year. On average, analysts predict that American Equity Investment Life Holding will post 6.46 earnings per share for the current fiscal year.

Insider Transactions at American Equity Investment Life

In other American Equity Investment Life news, EVP James Louis Hamalainen sold 16,248 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $53.32, for a total value of $866,343.36. Following the sale, the executive vice president now directly owns 19,216 shares in the company, valued at $1,024,597.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Robert L. Howe sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.35, for a total transaction of $266,750.00. Following the completion of the sale, the director now owns 83,282 shares in the company, valued at approximately $4,443,094.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Louis Hamalainen sold 16,248 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $53.32, for a total transaction of $866,343.36. Following the completion of the transaction, the executive vice president now owns 19,216 shares of the company’s stock, valued at approximately $1,024,597.12. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AEL shares. Piper Sandler lifted their target price on shares of American Equity Investment Life from $39.00 to $44.00 in a report on Wednesday, May 10th. StockNews.com started coverage on American Equity Investment Life in a research note on Wednesday. They issued a “hold” rating for the company. Raymond James lowered American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, June 28th. Truist Financial downgraded American Equity Investment Life from a “buy” rating to a “hold” rating and lifted their target price for the company from $49.00 to $55.00 in a research report on Friday, July 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of American Equity Investment Life in a research report on Tuesday, August 8th. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, American Equity Investment Life currently has an average rating of “Hold” and an average price target of $47.38.

Check Out Our Latest Research Report on AEL

American Equity Investment Life 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.