AlphaCrest Capital Management LLC Acquires New Holdings in American Equity Investment Life Holding (NYSE:AEL)

AlphaCrest Capital Management LLC acquired a new stake in American Equity Investment Life Holding (NYSE:AEL – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,622 shares of the financial services provider’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC acquired a new position in American Equity Investment Life in the 3rd quarter valued at approximately $8,401,000. Invesco Ltd. increased its position in 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. State Street Corp increased its position in American Equity Investment Life by 4.7% in 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 acquiring an additional 142,611 shares during the period. Easterly Investment Partners LLC increased its position in American Equity Investment Life by 33.2% in 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 acquiring an additional 90,134 shares during the period. Finally, Macquarie Group Ltd. increased its position in American Equity Investment Life by 1.7% in the 2nd quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock valued at $192,109,000 after acquiring an additional 85,531 shares during the period. Institutional investors own 94.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AEL shares. Evercore ISI upped their price target on shares of American Equity Investment Life from $38.00 to $43.00 and gave the company an “in-line” rating in a research report on Wednesday, December 21st. Morgan Stanley decreased their price objective on shares of American Equity Investment Life from $50.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, February 24th. JPMorgan Chase & Co. increased their price objective on shares of American Equity Investment Life from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Piper Sandler cut shares of American Equity Investment Life from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $45.00 to $48.00 in a research report on Tuesday, February 21st. Finally, Piper Jaffray Companies cut shares of American Equity Investment Life from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $45.00 to $48.00 in a research report on Tuesday, February 21st. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Equity Investment Life has an average rating of “Hold” and a consensus price target of $45.30.

American Equity Investment Life Stock Down 4.3 %

Shares of NYSE AEL opened at $39.19 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of 3.14 and a beta of 0.91. American Equity Investment Life Holding has a 12-month low of $28.05 and a 12-month high of $48.37. The company’s fifty day simple moving average is $45.15 and its 200 day simple moving average is $41.40. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27.

American Equity Investment Life (NYSE:AEL – Get Rating) last released its quarterly earnings data on Friday, February 17th. The financial services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.17). American Equity Investment Life had a net margin of 86.25% and a return on equity of 9.84%. The business had revenue of $654.45 million during the quarter, compared to the consensus estimate of $652.84 million. During the same period last year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was down 41.0% on a year-over-year basis. As a group, sell-side analysts forecast that American Equity Investment Life Holding will post 4.98 earnings per share for the current fiscal year.

American Equity Investment Life Company Profile

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American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.