Earnest Partners LLC Has $71.16 Million Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

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Earnest Partners LLC raised its holdings in shares of American Equity Investment Life Holding (NYSE:AEL) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,620,173 shares of the financial services provider’s stock after purchasing an additional 39,422 shares during the quarter. Earnest Partners LLC owned approximately 2.88% of American Equity Investment Life worth $71,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AEL. Global Retirement Partners LLC increased its position in American Equity Investment Life by 45.5% during the 1st quarter. Global Retirement Partners LLC now owns 2,496 shares of the financial services provider’s stock worth $67,000 after buying an additional 780 shares during the period. DekaBank Deutsche Girozentrale grew its position in American Equity Investment Life by 117.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,057 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 3,276 shares during the last quarter. Quantamental Technologies LLC bought a new position in American Equity Investment Life in the second quarter valued at about $182,000. Eqis Capital Management Inc. bought a new position in American Equity Investment Life in the second quarter valued at about $230,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in American Equity Investment Life in the first quarter valued at about $250,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Shares of AEL stock opened at $24.48 on Friday. The business’s 50-day moving average price is $22.84 and its 200-day moving average price is $27.20. American Equity Investment Life Holding has a 12 month low of $20.16 and a 12 month high of $36.94. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 5.25 and a beta of 1.99. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Monday, August 5th. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.14. The firm had revenue of $706.39 million for the quarter, compared to analyst estimates of $632.38 million. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. On average, sell-side analysts predict that American Equity Investment Life Holding will post 4.05 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Raymond James decreased their target price on American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, June 14th. TheStreet upgraded American Equity Investment Life from a “c+” rating to a “b-” rating in a research report on Monday, May 20th. ValuEngine cut American Equity Investment Life from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research upgraded American Equity Investment Life from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.67.

In related news, VP Jeffrey D. Lorenzen sold 12,413 shares of American Equity Investment Life stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $27.25, for a total value of $338,254.25. Following the transaction, the vice president now directly owns 41,030 shares of the company’s stock, valued at $1,118,067.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joyce Ann Chapman sold 10,000 shares of American Equity Investment Life stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $26.90, for a total value of $269,000.00. Following the completion of the transaction, the director now directly owns 24,950 shares in the company, valued at $671,155. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,413 shares of company stock worth $3,336,254. 1.99% of the stock is owned by insiders.

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

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