Citigroup Inc. Has $2.19 Million Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Citigroup Inc. boosted its stake in shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,101 shares of the financial services provider’s stock after purchasing an additional 8,173 shares during the period. Citigroup Inc.’s holdings in American Equity Investment Life were worth $2,194,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc. acquired a new stake in American Equity Investment Life in the third quarter valued at $608,000. Lazard Asset Management LLC lifted its position in shares of American Equity Investment Life by 49.9% in the third quarter. Lazard Asset Management LLC now owns 1,208 shares of the financial services provider’s stock valued at $45,000 after buying an additional 402 shares during the last quarter. Phase 2 Partners LLC acquired a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $7,563,000. Teacher Retirement System of Texas lifted its position in shares of American Equity Investment Life by 135.2% in the third quarter. Teacher Retirement System of Texas now owns 30,917 shares of the financial services provider’s stock valued at $1,153,000 after buying an additional 17,771 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of American Equity Investment Life in the third quarter valued at approximately $8,401,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEL. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of American Equity Investment Life in a research note on Thursday, April 13th. StockNews.com initiated coverage on shares of American Equity Investment Life in a research note on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler lifted their price target on American Equity Investment Life from $39.00 to $44.00 in a report on Wednesday, May 10th. Morgan Stanley dropped their price target on American Equity Investment Life from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Finally, Piper Jaffray Companies cut American Equity Investment Life from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $48.00 in a report on Tuesday, February 21st. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.90.

American Equity Investment Life Trading Down 1.2 %

AEL opened at $39.73 on Thursday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.33. American Equity Investment Life Holding has a twelve month low of $28.05 and a twelve month high of $48.37. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.26 and a beta of 0.88. The company has a 50-day simple moving average of $37.42 and a 200 day simple moving average of $40.80.

American Equity Investment Life (NYSE:AEL – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $662.50 million for the quarter, compared to analyst estimates of $626.02 million. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 348.2% on a year-over-year basis. Analysts predict that American Equity Investment Life Holding will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling at American Equity Investment Life

In other American Equity Investment Life news, Director Alan David Matula bought 7,100 shares of the stock in a transaction on Wednesday, March 22nd. The stock was purchased at an average price 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 in the company, valued at $1,417,941. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

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.