Vanguard Personalized Indexing Management LLC Acquires Shares of 6,466 American Equity Investment Life Holding (NYSE:AEL)

Vanguard Personalized Indexing Management LLC bought a new position in American Equity Investment Life Holding (NYSE:AEL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,466 shares of the financial services provider’s stock, valued at approximately $236,000.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in American Equity Investment Life by 404.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 1,962 shares during the period. Russell Investments Group Ltd. grew its holdings in American Equity Investment Life by 39.4% during the 1st quarter. Russell Investments Group Ltd. now owns 241,147 shares of the financial services provider’s stock valued at $8,799,000 after purchasing an additional 68,108 shares in the last quarter. Federated Hermes Inc. grew its holdings in American Equity Investment Life by 52.3% during the 1st quarter. Federated Hermes Inc. now owns 193,706 shares of the financial services provider’s stock valued at $7,068,000 after purchasing an additional 66,518 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in American Equity Investment Life by 12.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,712 shares of the financial services provider’s stock worth $354,000 after buying an additional 1,110 shares in the last quarter. Finally, Assetmark Inc. boosted its position in American Equity Investment Life by 2.8% in the 1st quarter. Assetmark Inc. now owns 25,954 shares of the financial services provider’s stock valued at $947,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

American Equity Investment Life Trading Down 0.0 %

American Equity Investment Life stock opened at $53.67 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. American Equity Investment Life Holding has a 1 year low of $28.05 and a 1 year high of $54.30. The firm’s 50-day moving average is $53.09 and its 200-day moving average is $44.01. The company has a market cap of $4.20 billion, a P/E ratio of 9.88 and a beta of 0.96.

American Equity Investment Life (NYSE:AEL) last issued its earnings results 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). The company had revenue of $851.60 million during the quarter, compared to analyst estimates of $646.06 million. American Equity Investment Life had a net margin of 18.55% and a return on equity of 15.52%. The business’s revenue was up 600.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts expect that American Equity Investment Life Holding will post 6.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AEL shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 target price on shares of American Equity Investment Life in a research report on Tuesday, August 8th. Piper Sandler upped their target price on American Equity Investment Life from $39.00 to $44.00 in a research report on Wednesday, May 10th. Truist Financial cut American Equity Investment Life from a “buy” rating to a “hold” rating and increased their target price for the company from $49.00 to $55.00 in a research note on Friday, July 14th. StockNews.com initiated coverage on shares of American Equity Investment Life in a research note on Friday. They issued a “hold” rating for the company. Finally, Raymond James downgraded shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, June 28th. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.38.

Insider Buying and Selling

In related news, Director Robert L. Howe sold 5,000 shares of American Equity Investment Life stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $53.35, for a total value of $266,750.00. Following the sale, the director now directly owns 83,282 shares in the company, valued at approximately $4,443,094.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert L. Howe sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $53.35, for a total value of $266,750.00. Following the sale, the director now directly owns 83,282 shares in the company, valued at approximately $4,443,094.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Louis Hamalainen sold 16,248 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $53.32, for a total value of $866,343.36. Following the completion of the transaction, the executive vice president now directly owns 19,216 shares of the company’s stock, valued at approximately $1,024,597.12. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.

About American Equity Investment Life

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.