Ensign Peak Advisors Inc Decreases Position in American Equity Investment Life Holding (NYSE:AEL)

Ensign Peak Advisors Inc decreased its stake in American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,573 shares of the financial services provider’s stock after selling 6,110 shares during the period. Ensign Peak Advisors Inc’s holdings in American Equity Investment Life were worth $991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AEL. Citigroup Inc. boosted its holdings in American Equity Investment Life by 12.7% in the first quarter. Citigroup Inc. now owns 72,418 shares of the financial services provider’s stock valued at $2,890,000 after purchasing an additional 8,175 shares during the last quarter. Natixis Advisors L.P. raised its stake in American Equity Investment Life by 14.7% during the first quarter. Natixis Advisors L.P. now owns 22,189 shares of the financial services provider’s stock valued at $886,000 after buying an additional 2,837 shares in the last quarter. MetLife Investment Management LLC raised its stake in American Equity Investment Life by 56.1% during the first quarter. MetLife Investment Management LLC now owns 44,290 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 15,909 shares in the last quarter. BlackRock Inc. raised its stake in American Equity Investment Life by 0.4% during the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock valued at $531,512,000 after buying an additional 49,702 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in American Equity Investment Life by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 72,804 shares of the financial services provider’s stock valued at $2,985,000 after buying an additional 1,383 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

American Equity Investment Life Stock Down 4.2 %

AEL opened at $37.53 on Monday. American Equity Investment Life Holding has a 12 month low of $28.05 and a 12 month high of $48.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $3.18 billion, a P/E ratio of 3.01 and a beta of 0.91. The stock’s 50 day moving average price is $44.99 and its 200 day moving average price is $41.43.

American Equity Investment Life (NYSE:AEL – Get Rating) last posted its earnings results on Friday, February 17th. The financial services provider reported $0.79 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $652.84 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm’s revenue was down 41.0% compared to the same quarter last year. As a group, research analysts predict that American Equity Investment Life Holding will post 4.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on American Equity Investment Life from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, January 6th. Piper Jaffray Companies cut American Equity Investment Life from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $48.00 in a research note on Tuesday, February 21st. Raymond James upgraded American Equity Investment Life from an “outperform” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Monday, December 19th. Piper Sandler cut American Equity Investment Life from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $48.00 in a research report on Tuesday, February 21st. Finally, Morgan Stanley dropped their price target on American Equity Investment Life from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, February 24th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.30.

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.