Alps Advisors Inc. Has $470,000 Position in American Equity Investment Life Holding (AEL)

Alps Advisors Inc. cut its stake in American Equity Investment Life Holding (NYSE:AEL) by 34.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,291 shares of the financial services provider’s stock after selling 7,085 shares during the quarter. Alps Advisors Inc.’s holdings in American Equity Investment Life were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in American Equity Investment Life by 36.5% in the second quarter. BlackRock Inc. now owns 11,820,562 shares of the financial services provider’s stock worth $425,541,000 after buying an additional 3,158,288 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of American Equity Investment Life by 2.4% during the second quarter. Macquarie Group Ltd. now owns 3,620,526 shares of the financial services provider’s stock worth $130,339,000 after purchasing an additional 84,229 shares during the last quarter. Northern Trust Corp lifted its position in shares of American Equity Investment Life by 1.5% during the second quarter. Northern Trust Corp now owns 2,345,397 shares of the financial services provider’s stock worth $84,434,000 after purchasing an additional 33,959 shares during the last quarter. Bank of America Corp DE lifted its position in shares of American Equity Investment Life by 4.8% during the second quarter. Bank of America Corp DE now owns 1,573,125 shares of the financial services provider’s stock worth $56,633,000 after purchasing an additional 71,342 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of American Equity Investment Life by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,227,330 shares of the financial services provider’s stock worth $44,184,000 after purchasing an additional 71,186 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Several analysts have recently weighed in on the company. Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the stock a “buy” rating in a research report on Wednesday, August 8th. ValuEngine downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $41.00 target price on shares of American Equity Investment Life in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $36.17.

NYSE:AEL opened at $34.84 on Friday. American Equity Investment Life Holding has a twelve month low of $27.06 and a twelve month high of $38.56. The firm has a market cap of $3.05 billion, a PE ratio of 11.03 and a beta of 2.51. 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 (NYSE:AEL) last released its earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.99. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. American Equity Investment Life had a return on equity of 12.63% and a net margin of 13.62%. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. On average, sell-side analysts anticipate that American Equity Investment Life Holding will post 3.59 earnings per share for the current year.

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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.

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

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