Toroso Investments LLC raised its stake in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 599.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,397 shares of the financial services provider’s stock after purchasing an additional 44,905 shares during the quarter. Toroso Investments LLC owned about 0.07% of American Equity Investment Life worth $1,912,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AEL. Coppell Advisory Solutions Corp. acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at $29,000. Lansing Street Advisors acquired a new position in shares of American Equity Investment Life during the 1st quarter valued at $39,000. ICA Group Wealth Management LLC acquired a new position in shares of American Equity Investment Life during the 1st quarter valued at $45,000. CoreCap Advisors LLC purchased a new stake in American Equity Investment Life during the 4th quarter worth $48,000. Finally, Parallel Advisors LLC boosted its position in American Equity Investment Life by 450.2% during the 1st 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 during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.
Analyst Ratings Changes
AEL has been the subject of a number of research reports. Royal Bank of Canada reaffirmed 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. Truist Financial cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating and upped their price target for the stock from $49.00 to $55.00 in a research report on Friday, July 14th. StockNews.com initiated coverage on shares of American Equity Investment Life in a research report on Saturday, September 9th. They set a “hold” rating for the company. Finally, Raymond James cut shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.38.
Insider Activity
In other news, EVP James Louis Hamalainen sold 16,248 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $53.32, for a total value of $866,343.36. Following the sale, the executive vice president now owns 19,216 shares in the company, valued at approximately $1,024,597.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP James Louis Hamalainen sold 16,248 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $53.32, for a total value of $866,343.36. Following the sale, the executive vice president now owns 19,216 shares in the company, valued at approximately $1,024,597.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert L. Howe sold 5,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
American Equity Investment Life Stock Performance
Shares of AEL stock opened at $53.98 on Friday. American Equity Investment Life Holding has a 12 month low of $28.05 and a 12 month high of $54.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $4.23 billion, a P/E ratio of 9.94 and a beta of 0.96. The company’s fifty day moving average price is $53.52 and its two-hundred day moving average price is $44.72.
American Equity Investment Life (NYSE:AEL – Get Free Report) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.03). American Equity Investment Life had a return on equity of 15.52% and a net margin of 18.55%. The firm had revenue of $851.60 million during the quarter, compared to analyst estimates of $646.06 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 600.3% compared to the same quarter last year. On average, research analysts anticipate that American Equity Investment Life Holding will post 6.48 earnings per share for the current fiscal year.
American Equity Investment Life 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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