Great West Life Assurance Co. Can raised its position in American Equity Investment Life Holding (NYSE:AEL) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,830 shares of the financial services provider’s stock after buying an additional 7,593 shares during the period. Great West Life Assurance Co. Can owned about 0.14% of American Equity Investment Life Holding worth $2,878,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AEL. BlackRock Inc. increased its stake in shares of American Equity Investment Life Holding by 1.6% in the third quarter. BlackRock Inc. now owns 22,807 shares of the financial services provider’s stock worth $404,000 after buying an additional 353 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of American Equity Investment Life Holding during the third quarter worth $313,000. California State Teachers Retirement System increased its stake in shares of American Equity Investment Life Holding by 8.0% in the third quarter. California State Teachers Retirement System now owns 181,556 shares of the financial services provider’s stock worth $3,219,000 after buying an additional 13,500 shares during the last quarter. American International Group Inc. increased its stake in shares of American Equity Investment Life Holding by 1.5% in the third quarter. American International Group Inc. now owns 60,910 shares of the financial services provider’s stock worth $1,080,000 after buying an additional 911 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of American Equity Investment Life Holding by 0.5% in the third quarter. Northern Trust Corp now owns 2,187,851 shares of the financial services provider’s stock worth $38,790,000 after buying an additional 11,522 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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

Shares of American Equity Investment Life Holding (NYSE:AEL) opened at 24.92 on Friday. The stock’s 50 day moving average price is $23.97 and its 200 day moving average price is $23.71. 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 market cap of $2.21 billion, a P/E ratio of 12.00 and a beta of 2.36.

American Equity Investment Life Holding (NYSE:AEL) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.08. American Equity Investment Life Holding had a return on equity of 4.79% and a net margin of 3.75%. The firm had revenue of $927.30 million during the quarter, compared to analyst estimates of $532.31 million. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s 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 year.

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A number of equities research analysts have weighed in on AEL shares. TheStreet upgraded American Equity Investment Life Holding from a “c” rating to a “b-” rating in a report on Thursday, February 9th. FBR & Co boosted their price objective on American Equity Investment Life Holding from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, February 13th. Keefe, Bruyette & Woods started coverage on American Equity Investment Life Holding in a report on Wednesday, April 26th. They set a “market perform” rating and a $26.00 price objective for the company. Finally, Royal Bank of Canada restated a “buy” rating and set a $28.00 price objective on shares of American Equity Investment Life Holding in a report on Monday, May 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $24.63.

In other news, Director Alan David Matula bought 6,270 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $23.96 per share, with a total value of $150,229.20. Following the transaction, the director now owns 13,220 shares of the company’s stock, valued at $316,751.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.43% of the stock is currently owned by corporate insiders.

About American Equity Investment Life Holding

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.

12 Month Chart for NYSE:AEL

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