AE Wealth Management LLC Invests $218,000 in American Equity Investment Life Holding (NYSE:AEL)

AE Wealth Management LLC purchased a new position in shares of American Equity Investment Life Holding (NYSE:AEL) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,925 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of American Equity Investment Life by 4.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,875 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 400 shares in the last quarter. Congress Asset Management Co. MA raised its stake in shares of American Equity Investment Life by 1.7% during the 4th quarter. Congress Asset Management Co. MA now owns 31,114 shares of the financial services provider’s stock worth $861,000 after purchasing an additional 515 shares in the last quarter. KBC Group NV increased its holdings in shares of American Equity Investment Life by 9.6% during the 4th quarter. KBC Group NV now owns 9,901 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 869 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of American Equity Investment Life during the 4th quarter valued at about $29,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of American Equity Investment Life by 3.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 53,774 shares of the financial services provider’s stock valued at $1,487,000 after acquiring an additional 1,792 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

In other American Equity Investment Life news, Director Joyce Ann Chapman sold 6,036 shares of the business’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $30.61, for a total value of $184,761.96. Following the completion of the transaction, the director now directly owns 44,150 shares of the company’s stock, valued at $1,351,431.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Howe sold 6,143 shares of the business’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $30.01, for a total value of $184,351.43. Following the completion of the transaction, the director now directly owns 70,500 shares of the company’s stock, valued at $2,115,705. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,661 shares of company stock valued at $1,272,987. 1.94% of the stock is owned by insiders.

Shares of AEL opened at $31.20 on Friday. The stock has a fifty day moving average price of $31.38 and a two-hundred day moving average price of $29.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.13 and a current ratio of 0.13. American Equity Investment Life Holding has a 52-week low of $17.29 and a 52-week high of $34.25. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 3.33 and a beta of 1.49.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Tuesday, May 4th. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The company had revenue of $497.19 million during the quarter, compared to analyst estimates of $491.14 million. As a group, research analysts predict that American Equity Investment Life Holding will post 4.64 EPS for the current fiscal year.

A number of research firms have issued reports on AEL. Raymond James raised American Equity Investment Life from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Friday, January 15th. JPMorgan Chase & Co. initiated coverage on American Equity Investment Life in a report on Wednesday, March 3rd. They issued a “neutral” rating on the stock. Truist lifted their price objective on American Equity Investment Life from $30.00 to $36.00 in a report on Friday, February 19th. Citigroup lifted their price objective on American Equity Investment Life from $21.00 to $33.00 in a report on Wednesday, March 31st. Finally, Royal Bank of Canada lifted their price objective on American Equity Investment Life from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, April 6th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. American Equity Investment Life presently has an average rating of “Buy” and an average price target of $32.89.

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; and 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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