Royce & Associates LP Has $597,000 Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Royce & Associates LP lifted its stake in American Equity Investment Life Holding (NYSE:AEL) by 1,168.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,101 shares of the financial services provider’s stock after purchasing an additional 20,359 shares during the period. Royce & Associates LP’s holdings in American Equity Investment Life were worth $597,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in American Equity Investment Life by 2.5% in the 4th quarter. BlackRock Inc. now owns 13,183,271 shares of the financial services provider’s stock valued at $368,342,000 after buying an additional 327,661 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in American Equity Investment Life by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,446,044 shares of the financial services provider’s stock valued at $208,042,000 after acquiring an additional 48,459 shares during the last quarter. Macquarie Group Ltd. raised its holdings in American Equity Investment Life by 1.7% in the 4th quarter. Macquarie Group Ltd. now owns 4,001,185 shares of the financial services provider’s stock valued at $111,793,000 after acquiring an additional 68,620 shares during the last quarter. Bank of America Corp DE raised its holdings in American Equity Investment Life by 14.3% in the 4th quarter. Bank of America Corp DE now owns 1,408,123 shares of the financial services provider’s stock valued at $39,342,000 after acquiring an additional 176,159 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of American Equity Investment Life during the 4th quarter worth $38,177,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

American Equity Investment Life stock traded up $0.20 during midday trading on Monday, reaching $27.36. The stock had a trading volume of 329,228 shares, compared to its average volume of 452,502. The firm has a fifty day moving average of $28.34. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 5.87 and a beta of 2.00. American Equity Investment Life Holding has a twelve month low of $25.27 and a twelve month high of $38.56. 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 issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $625.65 million. The company’s quarterly revenue was up 741.8% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. As a group, research analysts predict that American Equity Investment Life Holding will post 3.89 EPS for the current fiscal year.

In related news, Director Debra J. Richardson sold 80,000 shares of American Equity Investment Life stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $27.40, for a total value of $2,192,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joyce Ann Chapman sold 10,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $26.90, for a total transaction of $269,000.00. Following the completion of the sale, the director now owns 24,950 shares in the company, valued at $671,155. The disclosure for this sale can be found here. Insiders have sold a total of 122,413 shares of company stock worth $3,336,254 in the last 90 days. 1.99% of the stock is owned by insiders.

A number of analysts have recently commented on AEL shares. TheStreet upgraded American Equity Investment Life from a “c+” rating to a “b-” rating in a report on Monday, May 20th. Zacks Investment Research raised shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, May 6th. Sandler O’Neill lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, UBS Group raised their price objective on shares of American Equity Investment Life from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. American Equity Investment Life currently has an average rating of “Hold” and a consensus price target of $35.00.

About American Equity Investment Life

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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