Earnest Partners LLC Buys 39,422 Shares of American Equity Investment Life Holding (NYSE:AEL)

Earnest Partners LLC increased its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,620,173 shares of the financial services provider’s stock after buying an additional 39,422 shares during the quarter. Earnest Partners LLC’s holdings in American Equity Investment Life were worth $71,164,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of American Equity Investment Life by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 953,517 shares of the financial services provider’s stock valued at $26,641,000 after purchasing an additional 88,978 shares during the last quarter. Rhumbline Advisers increased its position in shares of American Equity Investment Life by 1.2% during the 1st quarter. Rhumbline Advisers now owns 277,662 shares of the financial services provider’s stock valued at $7,502,000 after purchasing an additional 3,211 shares during the last quarter. Comerica Bank increased its position in shares of American Equity Investment Life by 1.6% during the 1st quarter. Comerica Bank now owns 91,041 shares of the financial services provider’s stock valued at $2,578,000 after purchasing an additional 1,440 shares during the last quarter. Texas Permanent School Fund increased its position in shares of American Equity Investment Life by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 61,449 shares of the financial services provider’s stock valued at $1,660,000 after purchasing an additional 2,330 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of American Equity Investment Life by 25.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 111,141 shares of the financial services provider’s stock valued at $3,003,000 after purchasing an additional 22,347 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

In related news, CFO Ted Morris Johnson sold 10,000 shares of American Equity Investment Life stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $27.59, for a total value of $275,900.00. Following the completion of the sale, the chief financial officer now owns 106,833 shares of the company’s stock, valued at approximately $2,947,522.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Debra J. Richardson sold 80,000 shares of American Equity Investment Life stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $27.40, for a total value of $2,192,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 122,413 shares of company stock valued at $3,336,254. 1.99% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on the company. ValuEngine lowered American Equity Investment Life from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 27th. TheStreet raised American Equity Investment Life from a “c+” rating to a “b-” rating in a research report on Monday, May 20th. Zacks Investment Research raised American Equity Investment Life from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, August 26th. Finally, Raymond James decreased their target price on American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. American Equity Investment Life currently has an average rating of “Hold” and an average price target of $28.67.

Shares of AEL opened at $24.48 on Friday. The business has a 50-day moving average of $22.84 and a 200 day moving average of $27.20. American Equity Investment Life Holding has a fifty-two week low of $20.16 and a fifty-two week high of $36.94. The firm has a market cap of $2.13 billion, a P/E ratio of 5.25 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.14. The firm had revenue of $706.39 million during the quarter, compared to analysts’ expectations of $632.38 million. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that American Equity Investment Life Holding will post 4.05 earnings per share for the current fiscal year.

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. 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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