Oregon Public Employees Retirement Fund Cuts Stock Position in American Equity Investment Life Holding (NYSE:AEL)

Oregon Public Employees Retirement Fund lowered its holdings in American Equity Investment Life Holding (NYSE:AELGet Rating) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,995 shares of the financial services provider’s stock after selling 5,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in American Equity Investment Life were worth $951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AEL. Invesco Ltd. lifted its position in shares of American Equity Investment Life by 12.0% during the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock valued at $73,278,000 after buying an additional 196,589 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of American Equity Investment Life by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider’s stock valued at $275,512,000 after buying an additional 193,277 shares during the last quarter. Icon Advisers Inc. Co. purchased a new position in shares of American Equity Investment Life during the 1st quarter valued at $5,883,000. State Street Corp lifted its position in shares of American Equity Investment Life by 4.7% during the 1st quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock valued at $127,313,000 after buying an additional 142,611 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its position in shares of American Equity Investment Life by 33.2% during the 1st quarter. Easterly Investment Partners LLC now owns 361,254 shares of the financial services provider’s stock valued at $14,418,000 after buying an additional 90,134 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Insider Activity at American Equity Investment Life

In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive vice president now directly owns 36,439 shares in the company, valued at approximately $1,457,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is currently owned by company insiders.

American Equity Investment Life Price Performance

Shares of NYSE AEL opened at $39.15 on Friday. The firm has a market capitalization of $3.43 billion, a P/E ratio of 3.31 and a beta of 0.99. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $38.47 and its two-hundred day simple moving average is $37.96. American Equity Investment Life Holding has a twelve month low of $31.76 and a twelve month high of $44.49.

American Equity Investment Life (NYSE:AELGet Rating) last posted its quarterly earnings data on Monday, August 8th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The firm had revenue of $121.40 million during the quarter, compared to analysts’ expectations of $628.20 million. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was down 88.7% compared to the same quarter last year. As a group, equities analysts anticipate that American Equity Investment Life Holding will post 3.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on AEL. Morgan Stanley upped their price target on American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. Keefe, Bruyette & Woods lowered American Equity Investment Life from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $43.00 to $41.00 in a research note on Wednesday, July 13th. Raymond James boosted their price objective on American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. StockNews.com initiated coverage on American Equity Investment Life in a research note on Wednesday. They set a “hold” rating on the stock. Finally, Evercore ISI lowered American Equity Investment Life from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $42.00 to $44.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.20.

About American Equity Investment Life

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AELGet Rating).

Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

Receive News & Ratings for American Equity Investment Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for American Equity Investment Life and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *