61,100 Shares in American Equity Investment Life Holding (AEL) Acquired by Putnam Investments LLC

Putnam Investments LLC acquired a new position in shares of American Equity Investment Life Holding (NYSE:AEL) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 61,100 shares of the financial services provider’s stock, valued at approximately $2,200,000.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of American Equity Investment Life by 36.5% during the 2nd quarter. BlackRock Inc. now owns 11,820,562 shares of the financial services provider’s stock worth $425,541,000 after acquiring an additional 3,158,288 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American Equity Investment Life by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,569,688 shares of the financial services provider’s stock valued at $222,246,000 after purchasing an additional 25,141 shares during the period. Macquarie Group Ltd. boosted its position in shares of American Equity Investment Life by 2.4% in the 2nd quarter. Macquarie Group Ltd. now owns 3,620,526 shares of the financial services provider’s stock valued at $130,339,000 after purchasing an additional 84,229 shares during the period. Earnest Partners LLC boosted its position in shares of American Equity Investment Life by 1.5% in the 1st quarter. Earnest Partners LLC now owns 2,661,076 shares of the financial services provider’s stock valued at $78,129,000 after purchasing an additional 39,246 shares during the period. Finally, Northern Trust Corp boosted its position in shares of American Equity Investment Life by 5.5% in the 1st quarter. Northern Trust Corp now owns 2,311,438 shares of the financial services provider’s stock valued at $67,864,000 after purchasing an additional 121,431 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AEL opened at $35.01 on Thursday. The stock has a market capitalization of $3.20 billion, a P/E ratio of 9.92 and a beta of 2.53. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. American Equity Investment Life Holding has a 52-week low of $27.06 and a 52-week high of $38.56.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Monday, August 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. The firm had revenue of $685.50 million during the quarter, compared to analysts’ expectations of $589.40 million. American Equity Investment Life had a return on equity of 12.32% and a net margin of 11.14%. The business’s revenue was down 16.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. research analysts forecast that American Equity Investment Life Holding will post 3.55 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on AEL. Sandler O’Neill reissued a “buy” rating and issued a $41.00 target price on shares of American Equity Investment Life in a research report on Friday, July 13th. ValuEngine cut American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Zacks Investment Research cut American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Finally, Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the company a “buy” rating in a research report on Wednesday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.14.

American Equity Investment Life Company 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. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Recommended Story: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL).

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

Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply