Vanguard Group Inc. Boosts Position in American Equity Investment Life Holding Company (AEL)

Vanguard Group Inc. boosted its holdings in American Equity Investment Life Holding Company (NYSE:AEL) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,823,142 shares of the financial services provider’s stock after buying an additional 450,110 shares during the period. Vanguard Group Inc. owned approximately 9.93% of American Equity Investment Life Holding worth $231,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEL. BlackRock Inc. raised its holdings in American Equity Investment Life Holding by 39,171.4% in the first quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock valued at $202,068,000 after buying an additional 8,529,563 shares during the period. Bank of America Corp DE raised its holdings in American Equity Investment Life Holding by 68.6% in the first quarter. Bank of America Corp DE now owns 1,363,485 shares of the financial services provider’s stock valued at $32,219,000 after buying an additional 554,672 shares during the period. Victory Capital Management Inc. raised its holdings in American Equity Investment Life Holding by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,258,753 shares of the financial services provider’s stock valued at $33,080,000 after buying an additional 313,332 shares during the period. State Street Corp raised its holdings in American Equity Investment Life Holding by 11.6% in the first quarter. State Street Corp now owns 2,586,563 shares of the financial services provider’s stock valued at $61,117,000 after buying an additional 269,315 shares during the period. Finally, Prudential Financial Inc. raised its holdings in American Equity Investment Life Holding by 20.0% in the second quarter. Prudential Financial Inc. now owns 1,292,774 shares of the financial services provider’s stock valued at $33,974,000 after buying an additional 215,563 shares during the period. Hedge funds and other institutional investors own 93.28% of the company’s stock.

Several research analysts recently commented on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price target on shares of American Equity Investment Life Holding in a report on Tuesday. ValuEngine upgraded shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $28.00 price objective on shares of American Equity Investment Life Holding in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.00.

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Shares of American Equity Investment Life Holding Company (NYSE AEL) opened at 29.82 on Friday. The stock’s 50 day moving average is $28.29 and its 200-day moving average is $26.15. American Equity Investment Life Holding Company has a 52-week low of $15.39 and a 52-week high of $30.25. The firm has a market cap of $2.65 billion, a P/E ratio of 13.74 and a beta of 2.52.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $819.10 million during the quarter, compared to analyst estimates of $531.83 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities analysts anticipate that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current fiscal year.

American Equity Investment Life Holding Company Profile

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.

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

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