Metropolitan Life Insurance Co NY Cuts Stake in American Equity Investment Life Holding (NYSE:AEL)

Metropolitan Life Insurance Co NY lessened its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,172 shares of the financial services provider’s stock after selling 587 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in American Equity Investment Life were worth $761,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in American Equity Investment Life during the fourth quarter worth about $49,000. Quadrant Capital Group LLC raised its stake in American Equity Investment Life by 547.5% during the first quarter. Quadrant Capital Group LLC now owns 2,331 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,971 shares during the period. Global Retirement Partners LLC raised its stake in American Equity Investment Life by 45.5% during the first quarter. Global Retirement Partners LLC now owns 2,496 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 780 shares during the period. Advisor Group Inc. raised its stake in American Equity Investment Life by 32.0% during the fourth quarter. Advisor Group Inc. now owns 8,787 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 2,129 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in American Equity Investment Life during the first quarter worth about $250,000. Institutional investors own 92.19% of the company’s stock.

A number of brokerages have commented on AEL. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Raymond James reiterated a “hold” rating on shares of Broadcom in a research report on Friday, June 14th. Sandler O’Neill cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. UBS Group lifted their price target on shares of Tableau Software to $134.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $33.50.

Shares of AEL traded down $0.11 during trading on Friday, reaching $26.53. 280,700 shares of the company traded hands, compared to its average volume of 441,189. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $2.42 billion, a PE ratio of 5.70 and a beta of 2.00. The business’s 50-day moving average is $27.48. American Equity Investment Life Holding has a twelve month low of $25.27 and a twelve month high of $38.56.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $625.65 million. The company’s revenue for the quarter was up 741.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. Sell-side analysts predict that American Equity Investment Life Holding will post 3.89 EPS for the current fiscal year.

In other American Equity Investment Life news, Director Debra J. Richardson sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $27.40, for a total transaction of $2,192,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ted Morris Johnson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $27.59, for a total transaction of $275,900.00. Following the sale, the chief financial officer now owns 106,833 shares of the company’s stock, valued at approximately $2,947,522.47. The disclosure for this sale can be found here. Insiders sold 122,413 shares of company stock valued at $3,336,254 in the last 90 days. Company insiders own 1.99% of the company’s stock.

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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