Public Employees Retirement System of Ohio cut its position in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 7.8% during the first quarter, Holdings Channel reports. The institutional investor owned 8,328 shares of the financial services provider’s stock after selling 709 shares during the period. Public Employees Retirement System of Ohio’s holdings in American Equity Investment Life Holding were worth $197,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AEL. State of Alaska Department of Revenue boosted its stake in American Equity Investment Life Holding by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,790 shares of the financial services provider’s stock worth $231,000 after buying an additional 270 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in American Equity Investment Life Holding by 1.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,130 shares of the financial services provider’s stock worth $476,000 after buying an additional 270 shares in the last quarter. Elkfork Partners LLC boosted 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 in the last quarter. Meadow Creek Investment Management LLC boosted its stake in American Equity Investment Life Holding by 11.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the financial services provider’s stock worth $129,000 after buying an additional 544 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in American Equity Investment Life Holding by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the financial services provider’s stock worth $851,000 after buying an additional 600 shares in the last quarter. Institutional investors own 93.25% of the company’s stock.

American Equity Investment Life Holding Company (AEL) traded down 0.68% during mid-day trading on Thursday, hitting $27.66. The stock had a trading volume of 122,014 shares. The stock has a market cap of $2.46 billion, a P/E ratio of 12.74 and a beta of 2.49. The company has a 50 day moving average price of $26.87 and a 200 day moving average price of $25.27. American Equity Investment Life Holding Company has a one year low of $15.27 and a one year high of $28.32.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.12. The business had revenue of $819.10 million for the quarter, compared to analyst estimates of $531.83 million. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities analysts anticipate that American Equity Investment Life Holding Company will post $2.57 EPS for the current year.

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A number of analysts have recently commented on the company. BidaskClub upgraded American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research cut American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 target price on shares of American Equity Investment Life Holding in a research report on Monday, May 22nd. TheStreet cut American Equity Investment Life Holding from a “b-” rating to a “c+” rating in a research report on Monday, May 15th. Finally, FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $30.00 to $26.00 in a research report on Wednesday, June 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. American Equity Investment Life Holding currently has a consensus rating of “Hold” and a consensus target price of $25.00.

In related news, Director Alan David Matula bought 6,270 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $23.96 per share, for a total transaction of $150,229.20. Following the purchase, the director now owns 13,220 shares in the company, valued at approximately $316,751.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.05% of the company’s stock.

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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