American Equity Investment Life Holding (NYSE:AEL) Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 460,423 shares of the financial services provider’s stock after selling 1,308 shares during the period. Principal Financial Group Inc.’s holdings in American Equity Investment Life were worth $21,004,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AEL. Citigroup Inc. grew its position in shares of American Equity Investment Life by 12.7% during the first quarter. Citigroup Inc. now owns 72,418 shares of the financial services provider’s stock worth $2,890,000 after acquiring an additional 8,175 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of American Equity Investment Life by 14.7% during the first quarter. Natixis Advisors L.P. now owns 22,189 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 2,837 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of American Equity Investment Life by 56.1% during the first quarter. MetLife Investment Management LLC now owns 44,290 shares of the financial services provider’s stock worth $1,768,000 after acquiring an additional 15,909 shares during the last quarter. BlackRock Inc. grew its position in shares of American Equity Investment Life by 0.4% during the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after acquiring an additional 49,702 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of American Equity Investment Life by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 72,804 shares of the financial services provider’s stock worth $2,985,000 after acquiring an additional 1,383 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

American Equity Investment Life Price Performance

Shares of NYSE AEL opened at $38.75 on Monday. American Equity Investment Life Holding has a twelve month low of $28.05 and a twelve month high of $48.37. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 8.06 and a beta of 0.88. The firm has a 50-day moving average of $37.03 and a two-hundred day moving average of $40.81.

American Equity Investment Life (NYSE:AEL – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.32. American Equity Investment Life had a net margin of 25.84% and a return on equity of 12.84%. The company had revenue of $662.50 million during the quarter, compared to the consensus estimate of $626.02 million. During the same period in the prior year, the company earned $0.92 EPS. American Equity Investment Life’s revenue was up 348.2% on a year-over-year basis. As a group, analysts expect that American Equity Investment Life Holding will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling at American Equity Investment Life

In other news, Director Alan David Matula acquired 7,100 shares of American Equity Investment Life stock in a transaction on Wednesday, March 22nd. The stock was bought at an average cost of $35.50 per share, with a total value of $252,050.00. Following the completion of the purchase, the director now owns 39,942 shares of the company’s stock, valued at $1,417,941. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AEL. StockNews.com began coverage on shares of American Equity Investment Life in a research report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of American Equity Investment Life in a research report on Thursday, April 13th. Piper Sandler increased their target price on shares of American Equity Investment Life from $39.00 to $44.00 in a research report on Wednesday, May 10th. Piper Jaffray Companies lowered shares of American Equity Investment Life from an “overweight” rating to a “neutral” rating and increased their target price for the company from $45.00 to $48.00 in a research report on Tuesday, February 21st. Finally, Raymond James decreased their target price on shares of American Equity Investment Life from $48.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Friday, April 14th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.90.

About American Equity Investment Life

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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.