Schwab Charles Investment Management Inc. Boosts Holdings in American Equity Investment Life Holding Company (AEL)

Schwab Charles Investment Management Inc. grew its stake in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 17.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 723,509 shares of the financial services provider’s stock after buying an additional 108,373 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.82% of American Equity Investment Life Holding worth $19,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEL. Elkfork Partners LLC grew its stake in shares of American Equity Investment Life Holding by 11.0% during 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 last quarter. Meadow Creek Investment Management LLC grew its stake in shares of American Equity Investment Life Holding by 11.0% during the first quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the financial services provider’s stock worth $129,000 after buying an additional 544 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of American Equity Investment Life Holding by 90.3% during the second quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock worth $134,000 after buying an additional 2,427 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of American Equity Investment Life Holding during the first quarter worth $144,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of American Equity Investment Life Holding during the first quarter worth $175,000. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on AEL shares. Royal Bank Of Canada boosted their target price on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. BidaskClub raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research cut shares of American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. ValuEngine raised shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.00 target price on shares of American Equity Investment Life Holding in a research note on Wednesday, August 16th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. American Equity Investment Life Holding presently has a consensus rating of “Buy” and a consensus target price of $25.25.

American Equity Investment Life Holding Company (NYSE AEL) opened at 28.04 on Thursday. American Equity Investment Life Holding Company has a one year low of $15.39 and a one year high of $28.64. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 12.92 and a beta of 2.50. The stock’s 50 day moving average is $27.54 and its 200-day moving average is $25.66.

American Equity Investment Life Holding (NYSE:AEL) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The company had revenue of $819.10 million for the quarter, compared to analyst estimates of $531.83 million. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities research analysts expect that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current fiscal year.

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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.

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

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