Connable Office Inc. continued to hold its position in American Equity Investment Life Holding Company (NYSE:AEL) during the second quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position 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 last quarter. Vanguard Group Inc. raised its position in American Equity Investment Life Holding by 7.7% in the first quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock valued at $197,855,000 after buying an additional 600,302 shares during the last quarter. State Street Corp raised its position 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 last quarter. Snow Capital Management LP raised its position in American Equity Investment Life Holding by 273.7% in the first quarter. Snow Capital Management LP now owns 1,987,654 shares of the financial services provider’s stock valued at $46,968,000 after buying an additional 1,455,819 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in American Equity Investment Life Holding by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 1,566,350 shares of the financial services provider’s stock valued at $37,014,000 after buying an additional 110,361 shares during the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.

American Equity Investment Life Holding Company (AEL) opened at 27.74 on Friday. The stock has a 50 day moving average price of $27.03 and a 200-day moving average price of $25.31. American Equity Investment Life Holding Company has a 1-year low of $15.39 and a 1-year high of $28.32. The stock has a market cap of $2.47 billion, a PE ratio of 12.78 and a beta of 2.49.

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

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Several equities analysts recently issued reports on AEL shares. Royal Bank Of Canada raised their price target on American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. BidaskClub upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Keefe, Bruyette & Woods started coverage on American Equity Investment Life Holding in a report on Wednesday, April 26th. They issued a “market perform” rating and a $26.00 price objective for the company. 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, FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.00 to $26.00 in a report on Wednesday, June 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.00.

In related news, Director Alan David Matula bought 6,270 shares of the stock in a transaction on Wednesday, May 17th. The stock was bought 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 directly owns 13,220 shares in the company, valued at $316,751.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.05% of the stock is owned by corporate insiders.

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.

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

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