Bank of Montreal Can cut its holdings in American Equity Investment Life Holding (NYSE:AEL) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,637 shares of the financial services provider’s stock after selling 59,889 shares during the quarter. Bank of Montreal Can owned about 0.20% of American Equity Investment Life worth $4,907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AEL. Assenagon Asset Management S.A. acquired a new stake in shares of American Equity Investment Life in the 1st quarter valued at $2,528,000. Strs Ohio boosted its stake in shares of American Equity Investment Life by 1.0% in the 1st quarter. Strs Ohio now owns 42,100 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 400 shares in the last quarter. Profit Investment Management LLC acquired a new position in American Equity Investment Life during the 1st quarter worth about $1,880,000. American Century Companies Inc. acquired a new position in American Equity Investment Life during the 4th quarter worth about $392,000. Finally, Geode Capital Management LLC lifted its position in American Equity Investment Life by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 953,517 shares of the financial services provider’s stock worth $26,641,000 after buying an additional 88,978 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.
Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, May 6th. Finally, UBS Group upped their price target on shares of American Equity Investment Life from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.75.
Shares of NYSE AEL opened at $30.64 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of 6.58 and a beta of 2.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.10 and a current ratio of 0.11. American Equity Investment Life Holding has a 12-month low of $25.27 and a 12-month high of $38.56.
American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $625.65 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 13.92%. The firm’s quarterly revenue was up 741.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, sell-side analysts forecast that American Equity Investment Life Holding will post 3.88 earnings per share for the current fiscal year.
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American Equity Investment Life Company 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.
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