Tower Research Capital LLC TRC Has $89,000 Stock Position in American Equity Investment Life Holding (NYSE:AEL)

Tower Research Capital LLC TRC boosted its holdings in American Equity Investment Life Holding (NYSE:AEL) by 404.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,447 shares of the financial services provider’s stock after buying an additional 1,962 shares during the quarter. Tower Research Capital LLC TRC’s holdings in American Equity Investment Life were worth $89,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of American Equity Investment Life by 39.4% in 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. boosted its position in American Equity Investment Life by 52.3% in the first quarter. Federated Hermes Inc. now owns 193,706 shares of the financial services provider’s stock valued at $7,068,000 after buying an additional 66,518 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of American Equity Investment Life by 12.9% during the first 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 during the last quarter. Assetmark Inc. increased its holdings in shares of American Equity Investment Life by 2.8% during the first quarter. Assetmark Inc. now owns 25,954 shares of the financial services provider’s stock worth $947,000 after buying an additional 715 shares in the last quarter. Finally, Kalos Management Inc. bought a new position in shares of American Equity Investment Life in the 1st quarter valued at $128,000. Institutional investors own 94.98% of the company’s stock.

American Equity Investment Life Trading Down 0.1 %

AEL opened at $53.65 on Tuesday. The stock has a market cap of $4.20 billion, a PE ratio of 9.88 and a beta of 0.96. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. American Equity Investment Life Holding has a twelve month low of $28.05 and a twelve month high of $54.30. The company has a fifty day moving average of $53.26 and a 200-day moving average of $44.01.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Monday, August 7th. The financial services provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.03). The business had revenue of $851.60 million for the quarter, compared to analyst estimates of $646.06 million. American Equity Investment Life had a return on equity of 15.52% and a net margin of 18.55%. The business’s revenue was up 600.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, sell-side analysts predict that American Equity Investment Life Holding will post 6.48 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

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, 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.