Mitsubishi UFJ Trust & Banking Corp Invests $27,000 in American Equity Investment Life Holding (NYSE:AEL)

Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of American Equity Investment Life Holding (NYSE:AEL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 527 shares of the financial services provider’s stock, valued at approximately $27,000.

Several other hedge funds have also modified their holdings of AEL. Royce & Associates LP increased its position in shares of American Equity Investment Life by 2.9% during the 2nd quarter. Royce & Associates LP now owns 72,930 shares of the financial services provider’s stock valued at $3,800,000 after purchasing an additional 2,029 shares during the last quarter. American International Group Inc. increased its position in shares of American Equity Investment Life by 6.2% during the 2nd quarter. American International Group Inc. now owns 40,961 shares of the financial services provider’s stock valued at $2,134,000 after purchasing an additional 2,390 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of American Equity Investment Life by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 860 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 353 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of American Equity Investment Life by 132.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 27,015 shares of the financial services provider’s stock valued at $1,408,000 after purchasing an additional 15,380 shares during the last quarter. Finally, Barclays PLC increased its position in shares of American Equity Investment Life by 178.4% during the 2nd quarter. Barclays PLC now owns 127,969 shares of the financial services provider’s stock valued at $6,668,000 after purchasing an additional 82,011 shares during the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.

American Equity Investment Life Price Performance

AEL opened at $54.70 on Monday. American Equity Investment Life Holding has a 12-month low of $31.57 and a 12-month high of $54.74. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $53.64 and its 200-day simple moving average is $50.01. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 6.98 and a beta of 0.92.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.77. American Equity Investment Life had a return on equity of 21.32% and a net margin of 26.98%. The business had revenue of $266.65 million for the quarter, compared to the consensus estimate of $561.09 million. During the same quarter in the prior year, the company earned $0.99 EPS. On average, equities research analysts anticipate that American Equity Investment Life Holding will post 7.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AEL shares. StockNews.com started coverage on American Equity Investment Life in a research report on Monday. They set a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of American Equity Investment Life in a research report on Tuesday, August 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.38.

Insider Transactions at American Equity Investment Life

In other news, CFO Axel Andre sold 29,273 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $53.87, for a total transaction of $1,576,936.51. Following the transaction, the chief financial officer now owns 13,740 shares of the company’s stock, valued at approximately $740,173.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Axel Andre sold 29,273 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $53.87, for a total transaction of $1,576,936.51. Following the completion of the sale, the chief financial officer now directly owns 13,740 shares in the company, valued at approximately $740,173.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Howe sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $54.16, for a total value of $270,800.00. Following the sale, the director now owns 78,282 shares of the company’s stock, valued at $4,239,753.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 542,051 shares of company stock valued at $29,282,539. 1.83% of the stock is currently owned by corporate insiders.

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.