The American Equity Investment Life Holding (AEL) Position Boosted by Bank of New York Mellon Corp

The American Equity Investment Life Holding (AEL) Position Boosted by Bank of New York Mellon Corp

A number of other large investors also recently made changes to their positions in AEL. Elkfork Partners LLC raised its stake in shares of 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 period. State of Alaska Department of Revenue raised its stake in shares of 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 during the period. Janney Montgomery Scott LLC bought a new stake in shares of American Equity Investment Life Holding during the first quarter worth about $303,000. Bbva Compass Bancshares Inc. raised its stake in shares of 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 period. Finally, Employees Retirement System of Texas bought a new stake in shares of American Equity Investment Life Holding during the fourth quarter worth about $609,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Corp increased its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,566,350 shares of the financial services provider’s stock after buying an additional 110,361 shares during the period. Bank of New York Mellon Corp’s holdings in American Equity Investment Life Holding were worth $37,014,000 as of its most recent filing with the SEC.

Shares of American Equity Investment Life Holding (NYSE AEL) opened at 25.30 on Monday. American Equity Investment Life Holding has a 12 month low of $13.07 and a 12 month high of $28.00. The company has a 50-day moving average price of $24.20 and a 200-day moving average price of $23.91. The company has a market capitalization of $2.25 billion, a P/E ratio of 12.18 and a beta of 2.36.

American Equity Investment Life Holding (NYSE:AEL) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.08. American Equity Investment Life Holding had a net margin of 3.75% and a return on equity of 4.79%. The company had revenue of $927.30 million during the quarter, compared to analysts’ expectations of $532.31 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was up 122.1% compared to the same quarter last year. On average, analysts forecast that American Equity Investment Life Holding will post $2.48 EPS for the current fiscal year.

AEL has been the subject of a number of research analyst reports. TheStreet raised shares of American Equity Investment Life Holding from a “c” rating to a “b-” rating in a report on Thursday, February 9th. 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. Keefe, Bruyette & Woods assumed coverage on American Equity Investment Life Holding in a research report on Wednesday, April 26th. They set a “market perform” rating and a $26.00 target price for the company. Finally, FBR & Co increased their target price on American Equity Investment Life Holding from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.63.

In other news, Director Alan David Matula purchased 6,270 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost 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 of the company’s stock, valued at $316,751.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.43% of the stock is owned by corporate insiders. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AEL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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