American Equity Investment Life Holding (NYSE:AEL) Shares Bought by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB increased its holdings in American Equity Investment Life Holding (NYSE:AEL) by 31.5% in the 1st quarter, HoldingsChannel reports. The fund owned 18,767 shares of the financial services provider’s stock after purchasing an additional 4,500 shares during the period. Xact Kapitalforvaltning AB’s holdings in American Equity Investment Life were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AEL. Norges Bank purchased a new stake in American Equity Investment Life in the 4th quarter worth about $38,177,000. Oregon Public Employees Retirement Fund purchased a new stake in American Equity Investment Life in the 4th quarter worth about $34,000. Acadian Asset Management LLC lifted its stake in American Equity Investment Life by 300.4% in the 1st quarter. Acadian Asset Management LLC now owns 482,329 shares of the financial services provider’s stock worth $13,034,000 after acquiring an additional 361,865 shares in the last quarter. 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 worth $368,342,000 after acquiring an additional 327,661 shares in the last quarter. Finally, Burney Co. purchased a new stake in shares of American Equity Investment Life during the 4th quarter worth about $5,607,000. 92.40% of the stock is owned by hedge funds and other institutional investors.

Shares of AEL traded down $0.24 during midday trading on Friday, reaching $27.15. 7,784 shares of the stock were exchanged, compared to its average volume of 471,685. American Equity Investment Life Holding has a 12-month low of $25.27 and a 12-month high of $38.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $2.44 billion, a PE ratio of 5.83 and a beta of 2.17.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. American Equity Investment Life had a return on equity of 13.92% and a net margin of 13.62%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $625.65 million. During the same period last year, the business earned $0.85 EPS. The business’s quarterly revenue was up 741.8% on a year-over-year basis. On average, equities research analysts expect that American Equity Investment Life Holding will post 3.91 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. UBS Group raised their price target on American Equity Investment Life from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. TheStreet raised American Equity Investment Life from a “c+” rating to a “b-” rating in a research note on Monday, May 20th. Raymond James cut their price target on American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday. Finally, ValuEngine raised American Equity Investment Life from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.00.

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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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