Public Sector Pension investment Board lowered its holdings in American Equity Investment Life Holding Company (NYSE:AEL) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,616 shares of the financial services provider’s stock after selling 18,100 shares during the period. Public Sector Pension investment Board owned approximately 0.05% of American Equity Investment Life Holding worth $1,199,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AEL. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of American Equity Investment Life Holding by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock valued at $104,000 after buying an additional 414 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of American Equity Investment Life Holding by 79.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,226 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of American Equity Investment Life Holding by 90.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock valued at $134,000 after buying an additional 2,427 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of American Equity Investment Life Holding during the 1st quarter valued at about $144,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of American Equity Investment Life Holding during the 1st quarter valued at about $175,000. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

American Equity Investment Life Holding Company (AEL) opened at 29.08 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 13.39 and a beta of 2.50. The firm has a 50-day moving average price of $27.54 and a 200-day moving average price of $25.66. American Equity Investment Life Holding Company has a 52 week low of $15.39 and a 52 week high of $29.43.

American Equity Investment Life Holding (NYSE:AEL) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 EPS for the quarter, beating 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 prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 49.0% on a year-over-year basis. Equities research analysts predict that American Equity Investment Life Holding Company will post $2.63 EPS for the current fiscal year.

A number of equities analysts recently weighed in on AEL shares. ValuEngine raised American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub raised American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $30.00 to $26.00 in a report on Wednesday, June 7th. Zacks Investment Research cut American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, Royal Bank Of Canada raised their price objective on American Equity Investment Life Holding from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.25.

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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.

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

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