Swiss National Bank lessened its stake in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,600 shares of the financial services provider’s stock after selling 9,700 shares during the quarter. Swiss National Bank owned 0.19% of American Equity Investment Life worth $7,691,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in American Equity Investment Life in the 2nd quarter worth about $27,000. Coppell Advisory Solutions Corp. acquired a new position in American Equity Investment Life in the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC raised 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 purchasing an additional 353 shares during the period. ICA Group Wealth Management LLC acquired a new position in American Equity Investment Life in the 1st quarter worth about $45,000. Finally, Covestor Ltd raised its holdings in American Equity Investment Life by 38.9% in the 1st quarter. Covestor Ltd now owns 2,180 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 610 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on AEL shares. StockNews.com started coverage on American Equity Investment Life in a report on Monday, November 20th. They issued a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of American Equity Investment Life in a research note on Tuesday, August 8th. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.38.
View Our Latest Analysis on American Equity Investment Life
American Equity Investment Life Price Performance
NYSE:AEL opened at $55.06 on Friday. American Equity Investment Life Holding has a 12 month low of $31.57 and a 12 month high of $55.08. The stock has a 50 day moving average of $53.72 and a two-hundred day moving average of $50.41. 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 firm has a market cap of $4.35 billion, a P/E ratio of 7.02 and a beta of 0.92.
American Equity Investment Life (NYSE:AEL – Get Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $561.09 million. During the same period in the prior year, the business earned $0.99 earnings per share. On average, analysts expect that American Equity Investment Life Holding will post 7.04 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Robert L. Howe sold 5,000 shares of the 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 directly owns 78,282 shares in the company, valued at $4,239,753.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert L. Howe sold 5,000 shares of the 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 directly owns 78,282 shares in the company, valued at $4,239,753.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anant Bhalla sold 76,297 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $54.12, for a total value of $4,129,193.64. Following the completion of the sale, the chief executive officer now owns 1,028,134 shares in the company, valued at $55,642,612.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 542,051 shares of company stock worth $29,282,539. Corporate insiders own 1.83% 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.
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