Connable Office Inc. Has $257,000 Position in American Equity Investment Life Holding Company (AEL)

Connable Office Inc. held its stake in American Equity Investment Life Holding Company (NYSE:AEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,788 shares of the financial services provider’s stock at the end of the second quarter. Connable Office Inc.’s holdings in American Equity Investment Life Holding were worth $257,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Elkfork Partners LLC raised its stake in American Equity Investment Life Holding by 11.0% in the first quarter. Elkfork Partners LLC now owns 4,508 shares of the financial services provider’s stock worth $107,000 after buying an additional 448 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in American Equity Investment Life Holding by 12.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 22,011 shares of the financial services provider’s stock worth $520,000 after buying an additional 2,496 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in American Equity Investment Life Holding by 18.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,428 shares of the financial services provider’s stock worth $1,830,000 after buying an additional 11,890 shares during the last quarter. Great West Life Assurance Co. Can increased its position in American Equity Investment Life Holding by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 121,830 shares of the financial services provider’s stock worth $2,878,000 after buying an additional 7,593 shares during the last quarter. Finally, Hillcrest Asset Management LLC increased its position in American Equity Investment Life Holding by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 337,189 shares of the financial services provider’s stock worth $7,968,000 after buying an additional 24,810 shares during the last quarter. 93.25% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Holding Company (AEL) opened at 27.74 on Friday. American Equity Investment Life Holding Company has a 52-week low of $15.39 and a 52-week high of $28.32. The firm has a market capitalization of $2.47 billion, a P/E ratio of 12.78 and a beta of 2.49. The firm’s 50-day moving average is $27.03 and its 200-day moving average is $25.31.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. The firm had revenue of $819.10 million for the quarter, compared to analyst estimates of $531.83 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. On average, equities analysts expect that American Equity Investment Life Holding Company will post $2.62 earnings per share for the current year.

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AEL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of American Equity Investment Life Holding in a research report on Wednesday, April 26th. They issued a “market perform” rating and a $26.00 price target on the stock. FBR & Co downgraded shares of American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.00 to $26.00 in a research report on Wednesday, June 7th. BidaskClub downgraded shares of American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a research report on Monday, May 22nd. Finally, TheStreet cut shares of American Equity Investment Life Holding from a “b-” rating to a “c+” rating in a research note on Monday, May 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.00.

In related news, Director Alan David Matula purchased 6,270 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $23.96 per share, for a total transaction of $150,229.20. Following the completion of the acquisition, the director now owns 13,220 shares of the company’s stock, valued at approximately $316,751.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.05% of the company’s stock.

About American Equity Investment Life Holding

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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