American Equity Investment Life Holding (NYSE:AEL) EVP James Louis Hamalainen Sells 68,915 Shares

American Equity Investment Life Holding (NYSE:AEL) EVP James Louis Hamalainen sold 68,915 shares of American Equity Investment Life stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $54.03, for a total transaction of $3,723,477.45. Following the sale, the executive vice president now owns 19,216 shares of the company’s stock, valued at $1,038,240.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

James Louis Hamalainen also recently made the following trade(s):

• On Thursday, August 10th, James Louis Hamalainen sold 16,248 shares of American Equity Investment Life stock. The stock was sold at an average price of $53.32, for a total transaction of $866,343.36.

American Equity Investment Life Price Performance

AEL opened at $54.07 on Tuesday. 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 stock has a market capitalization of $4.23 billion, a P/E ratio of 9.96 and a beta of 0.96. The company’s 50-day simple moving average is $53.55 and its two-hundred day simple moving average is $44.85. American Equity Investment Life Holding has a 52-week low of $28.05 and a 52-week high of $54.44.

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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $851.60 million for the quarter, compared to the consensus estimate of $646.06 million. During the same quarter in the prior year, the company posted $0.98 EPS. American Equity Investment Life’s revenue was up 600.3% on a year-over-year basis. As a group, analysts predict that American Equity Investment Life Holding will post 6.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AEL shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of American Equity Investment Life in a report on Tuesday, August 8th. Raymond James downgraded shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, June 28th. Truist Financial downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating and upped their target price for the stock from $49.00 to $55.00 in a research report on Friday, July 14th. Finally, StockNews.com began coverage on shares of American Equity Investment Life in a research report on Sunday. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.38.

Hedge Funds Weigh In On American Equity Investment Life

Several institutional investors have recently made changes to their positions in AEL. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of American Equity Investment Life in the 2nd quarter worth approximately $27,000. Coppell Advisory Solutions Corp. bought a new position in shares of American Equity Investment Life in the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC bought a new position in shares of American Equity Investment Life in the 2nd quarter worth approximately $33,000. Lansing Street Advisors bought a new position in shares of American Equity Investment Life in the 1st quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in American Equity Investment Life by 69.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 860 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 353 shares in the last quarter. Institutional investors own 94.98% of the company’s stock.

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.