Cambria Investment Management L.P. Invests $357,000 in American Equity Investment Life Holding (AEL)

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Cambria Investment Management L.P. acquired a new position in shares of American Equity Investment Life Holding (NYSE:AEL) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,167 shares of the financial services provider’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds also recently modified their holdings of AEL. Dimensional Fund Advisors LP raised its holdings in American Equity Investment Life by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,569,688 shares of the financial services provider’s stock worth $222,246,000 after purchasing an additional 25,141 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in American Equity Investment Life by 6.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 35,900 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 2,240 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in American Equity Investment Life by 31.7% in the first quarter. JPMorgan Chase & Co. now owns 1,621,982 shares of the financial services provider’s stock worth $47,621,000 after purchasing an additional 390,131 shares in the last quarter. Brinker Capital Inc. increased its holdings in shares of American Equity Investment Life by 24.7% during the first quarter. Brinker Capital Inc. now owns 13,792 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,728 shares in the last quarter. Finally, BTC Capital Management Inc. acquired a new position in shares of American Equity Investment Life during the first quarter valued at about $244,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Ronald James Grensteiner sold 47,750 shares of the firm’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $30.20, for a total transaction of $1,442,050.00. Following the completion of the sale, the insider now directly owns 122,792 shares of the company’s stock, valued at approximately $3,708,318.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on AEL shares. ValuEngine upgraded shares of American Equity Investment Life from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research upgraded American Equity Investment Life from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Monday, May 28th. Finally, UBS Group upgraded American Equity Investment Life from a “sell” rating to a “neutral” rating in a research report on Friday, May 4th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. American Equity Investment Life presently has an average rating of “Buy” and an average price target of $32.71.

NYSE AEL opened at $35.95 on Friday. American Equity Investment Life Holding has a one year low of $24.51 and a one year high of $37.16. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.38 and a beta of 2.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. American Equity Investment Life had a return on equity of 11.22% and a net margin of 8.49%. The business had revenue of $510.78 million during the quarter, compared to the consensus estimate of $514.11 million. During the same period last year, the company earned $0.66 EPS. sell-side analysts forecast that American Equity Investment Life Holding will post 3.43 earnings per share for the current year.

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.

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

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