Gradient Investments LLC Boosts Stock Position in American Equity Investment Life Holding (NYSE:AEL)

Gradient Investments LLC increased its stake in American Equity Investment Life Holding (NYSE:AEL) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,599 shares of the financial services provider’s stock after buying an additional 450 shares during the period. Gradient Investments LLC’s holdings in American Equity Investment Life were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AEL. NumerixS Investment Technologies Inc purchased a new stake in shares of American Equity Investment Life in the 2nd quarter worth approximately $30,000. Denali Advisors LLC purchased a new stake in shares of American Equity Investment Life in the 3rd quarter worth approximately $80,000. DekaBank Deutsche Girozentrale grew its stake in shares of American Equity Investment Life by 117.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,057 shares of the financial services provider’s stock worth $163,000 after buying an additional 3,276 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of American Equity Investment Life in the 2nd quarter worth approximately $182,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of American Equity Investment Life in the 2nd quarter worth approximately $230,000. Institutional investors own 91.33% of the company’s stock.

Shares of AEL opened at $22.93 on Friday. The business’s fifty day simple moving average is $22.89 and its two-hundred day simple moving average is $26.21. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. American Equity Investment Life Holding has a 12 month low of $20.16 and a 12 month high of $36.11. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 4.92 and a beta of 2.00.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Monday, August 5th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.95 by $0.14. The business had revenue of $706.39 million for the quarter, compared to analysts’ expectations of $632.38 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts forecast that American Equity Investment Life Holding will post 4.04 EPS for the current year.

Several analysts have commented on AEL shares. ValuEngine upgraded American Equity Investment Life from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded American Equity Investment Life from a “buy” rating to a “sell” rating in a research note on Tuesday. Raymond James cut their target price on American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, June 14th. Finally, Citigroup cut their target price on American Equity Investment Life from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.25.

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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