Pzena Investment Management LLC Increases Stock Position in American Equity Investment Life Holding (NYSE:AEL)

Pzena Investment Management LLC lifted its holdings in American Equity Investment Life Holding (NYSE:AEL) by 22.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,217,042 shares of the financial services provider’s stock after purchasing an additional 219,973 shares during the period. Pzena Investment Management LLC owned about 1.57% of American Equity Investment Life worth $44,410,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of American Equity Investment Life by 0.4% in the 1st quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after purchasing an additional 49,702 shares during the period. Macquarie Group Ltd. raised its stake in American Equity Investment Life by 1.7% during the 2nd quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock worth $192,109,000 after acquiring an additional 85,531 shares during the period. State Street Corp raised its stake in 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 worth $127,313,000 after acquiring an additional 142,611 shares during the period. Invesco Ltd. raised its stake in 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 worth $73,278,000 after acquiring an additional 196,589 shares during the period. Finally, Barclays PLC raised its stake in American Equity Investment Life by 5,908.2% during the 4th quarter. Barclays PLC now owns 1,793,691 shares of the financial services provider’s stock worth $81,829,000 after acquiring an additional 1,763,837 shares during the period. Institutional investors own 94.98% of the company’s stock.

Analyst Ratings Changes

AEL has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of American Equity Investment Life in a research note on Tuesday, August 8th. Truist Financial cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating and raised their target price for the stock from $49.00 to $55.00 in a research note on Friday, July 14th. StockNews.com began coverage on shares of American Equity Investment Life in a research report on Saturday. They set a “hold” rating on the stock. Finally, Raymond James cut shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, June 28th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.38.

Insider Activity at American Equity Investment Life

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

American Equity Investment Life Trading Down 0.3 %

AEL stock opened at $53.70 on Friday. The firm has a fifty day moving average price of $53.36 and a 200 day moving average price of $44.30. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $54.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $4.20 billion, a PE ratio of 9.89 and a beta of 0.96.

American Equity Investment Life (NYSE:AEL) last posted its 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). American Equity Investment Life had a net margin of 18.55% and a return on equity of 15.52%. The business had revenue of $851.60 million during the quarter, compared to analysts’ expectations of $646.06 million. During the same period last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 600.3% compared to the same quarter last year. Sell-side analysts anticipate that American Equity Investment Life Holding will post 6.48 earnings per share for the current fiscal year.

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.