Bank of New York Mellon Corp Trims Stake in American Equity Investment Life Holding (NYSE:AEL)

Bank of New York Mellon Corp decreased its stake in shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 894,646 shares of the financial services provider’s stock after selling 15,583 shares during the period. Bank of New York Mellon Corp’s holdings in American Equity Investment Life were worth $33,361,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in American Equity Investment Life by 0.4% during the 1st quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after purchasing an additional 49,702 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of American Equity Investment Life by 1.7% during the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock worth $192,109,000 after buying an additional 85,531 shares in the last quarter. State Street Corp raised its position in shares of American Equity Investment Life by 4.7% in the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock valued at $127,313,000 after buying an additional 142,611 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of American Equity Investment Life by 0.3% during the second quarter. Clearbridge Investments LLC now owns 2,822,498 shares of the financial services provider’s stock valued at $103,219,000 after buying an additional 7,434 shares during the period. Finally, Invesco Ltd. grew its stake in American Equity Investment Life by 12.0% in the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock worth $73,278,000 after acquiring an additional 196,589 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Trading Down 11.8 %

Shares of AEL stock opened at $33.09 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $48.37. The firm’s 50 day moving average price is $44.74 and its two-hundred day moving average price is $41.39. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 2.65 and a beta of 0.91.

American Equity Investment Life (NYSE:AEL – Get Rating) last posted its earnings results on Friday, February 17th. The financial services provider reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.17). American Equity Investment Life had a net margin of 86.25% and a return on equity of 9.84%. The business had revenue of $654.45 million for the quarter, compared to analyst estimates of $652.84 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue was down 41.0% compared to the same quarter last year. On average, analysts anticipate that American Equity Investment Life Holding will post 4.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AEL shares. Raymond James upgraded American Equity Investment Life from an “outperform” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Monday, December 19th. JPMorgan Chase & Co. lifted their price target on American Equity Investment Life from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, January 6th. Piper Jaffray Companies downgraded shares of American Equity Investment Life from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $48.00 in a research note on Tuesday, February 21st. Morgan Stanley decreased their target price on shares of American Equity Investment Life from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, February 24th. Finally, Evercore ISI upped their price target on shares of American Equity Investment Life from $38.00 to $43.00 and gave the stock an “in-line” rating in a research report on Wednesday, December 21st. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.30.

American Equity Investment Life Profile

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American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.