American Equity Investment Life Holding (NYSE:AEL) Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers grew its position in American Equity Investment Life Holding (NYSE:AEL) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,662 shares of the financial services provider’s stock after acquiring an additional 3,211 shares during the quarter. Rhumbline Advisers owned about 0.31% of American Equity Investment Life worth $7,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AEL. Oregon Public Employees Retirement Fund purchased a new stake in American Equity Investment Life during the 4th quarter worth approximately $34,000. Royce & Associates LP bought a new stake in shares of American Equity Investment Life in the 4th quarter valued at approximately $49,000. Quadrant Capital Group LLC increased its holdings in shares of American Equity Investment Life by 547.5% in the 1st quarter. Quadrant Capital Group LLC now owns 2,331 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,971 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of American Equity Investment Life by 149.7% in the 4th quarter. Meeder Asset Management Inc. now owns 2,629 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 1,576 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of American Equity Investment Life by 9.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,032 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 580 shares during the last quarter. 92.40% of the stock is owned by hedge funds and other institutional investors.

NYSE:AEL remained flat at $$27.39 during mid-day trading on Friday. The company had a trading volume of 271,112 shares, compared to its average volume of 453,033. American Equity Investment Life Holding has a 1 year low of $25.27 and a 1 year high of $38.56. The company has a market cap of $2.44 billion, a P/E ratio of 5.88 and a beta of 2.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.11 and a current ratio of 0.11.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. American Equity Investment Life had a return on equity of 13.92% and a net margin of 13.62%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $625.65 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 741.8% compared to the same quarter last year. On average, research analysts predict that American Equity Investment Life Holding will post 3.91 EPS for the current fiscal year.

A number of brokerages have recently weighed in on AEL. Zacks Investment Research downgraded American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. UBS Group boosted their price target on American Equity Investment Life from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. TheStreet upgraded American Equity Investment Life from a “c+” rating to a “b-” rating in a research report on Monday, May 20th. Raymond James cut their price objective on American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Friday. Finally, ValuEngine raised American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.00.

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American Equity Investment Life Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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

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