American Equity Investment Life Holding (AEL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,634 shares of the financial services provider’s stock after selling 10,335 shares during the quarter. California Public Employees Retirement System owned about 0.18% of American Equity Investment Life worth $4,432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $290,000. Systematic Financial Management LP grew its position in shares of American Equity Investment Life by 10.6% in the third quarter. Systematic Financial Management LP now owns 38,925 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 3,745 shares during the last quarter. Commonwealth Bank of Australia acquired a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $272,000. Jennison Associates LLC acquired a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $659,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of American Equity Investment Life by 13.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,553 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 2,495 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on AEL shares. Zacks Investment Research lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. ValuEngine upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.67.

Shares of NYSE AEL opened at $30.30 on Friday. American Equity Investment Life Holding has a 1 year low of $25.27 and a 1 year high of $38.56. The company has a market cap of $2.71 billion, a P/E ratio of 6.50 and a beta of 2.30. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.31.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.09. American Equity Investment Life had a net margin of 13.62% and a return on equity of 14.00%. The firm had revenue of $554.36 million for the quarter, compared to analyst estimates of $556.20 million. During the same quarter last year, the business earned $0.82 earnings per share. Sell-side analysts anticipate that American Equity Investment Life Holding will post 3.78 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2019/03/17/american-equity-investment-life-holding-ael-shares-sold-by-california-public-employees-retirement-system.html.

American Equity Investment Life Profile

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. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Read More: QQQ ETF

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