Assenagon Asset Management S.A. Takes Position in American Equity Investment Life Holding (AEL)

Assenagon Asset Management S.A. acquired a new stake in American Equity Investment Life Holding (NYSE:AEL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,700 shares of the financial services provider’s stock, valued at approximately $1,333,000.

Other large investors have also recently bought and sold shares of the company. Vigilant Capital Management LLC acquired a new position in shares of American Equity Investment Life in the second quarter valued at approximately $112,000. 6 Meridian acquired a new position in shares of American Equity Investment Life in the second quarter valued at approximately $206,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of American Equity Investment Life in the second quarter valued at approximately $209,000. Zeke Capital Advisors LLC acquired a new position in shares of American Equity Investment Life in the second quarter valued at approximately $217,000. Finally, Sawtooth Solutions LLC acquired a new position in shares of American Equity Investment Life in the second quarter valued at approximately $238,000. 93.61% of the stock is owned by institutional investors and hedge funds.

AEL has been the subject of a number of recent analyst reports. Sandler O’Neill restated a “buy” rating and issued a $41.00 target price on shares of American Equity Investment Life in a report on Friday, July 13th. ValuEngine downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Royal Bank of Canada set a $38.00 target price on shares of American Equity Investment Life and gave the company a “buy” rating in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Equity Investment Life has an average rating of “Buy” and an average target price of $36.17.

American Equity Investment Life stock opened at $34.84 on Friday. American Equity Investment Life Holding has a 1 year low of $27.06 and a 1 year high of $38.56. The company has a market capitalization of $3.05 billion, a P/E ratio of 11.03 and a beta of 2.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.99. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.63%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. During the same period in the previous year, the firm earned $0.96 earnings per share. American Equity Investment Life’s revenue was up 31.8% compared to the same quarter last year. On average, research analysts predict that American Equity Investment Life Holding will post 3.59 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/11/10/assenagon-asset-management-s-a-takes-position-in-american-equity-investment-life-holding-ael.html.

About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Read More: What are defining characteristics of a correction?

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL).

Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply