Royce & Associates LP Acquires 26,818 Shares of American Equity Investment Life Holding (NYSE:AEL)

Royce & Associates LP grew its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 60.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,901 shares of the financial services provider’s stock after purchasing an additional 26,818 shares during the period. Royce & Associates LP owned approximately 0.09% of American Equity Investment Life worth $2,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. purchased a new position in American Equity Investment Life during the fourth quarter valued at approximately $29,000. Lansing Street Advisors bought a new stake in shares of American Equity Investment Life in the first quarter worth about $39,000. ICA Group Wealth Management LLC bought a new position in American Equity Investment Life in the 1st quarter worth $45,000. CoreCap Advisors LLC purchased a new stake in American Equity Investment Life in the fourth quarter worth about $48,000. Finally, Parallel Advisors LLC boosted its position in shares of American Equity Investment Life by 450.2% during the first quarter. Parallel Advisors LLC now owns 2,322 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 1,900 shares in the last quarter. 94.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Equity Investment Life

In other news, EVP James Louis Hamalainen sold 16,248 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $53.32, for a total value of $866,343.36. Following the completion of the sale, the executive vice president now owns 19,216 shares of the company’s stock, valued at $1,024,597.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert L. Howe sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $53.35, for a total transaction of $266,750.00. Following the sale, the director now directly owns 83,282 shares in the company, valued at approximately $4,443,094.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Louis Hamalainen sold 16,248 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $53.32, for a total transaction of $866,343.36. Following the completion of the transaction, the executive vice president now owns 19,216 shares of the company’s stock, valued at approximately $1,024,597.12. The disclosure for this sale can be found here. 1.83% of the stock is owned by insiders.

American Equity Investment Life Stock Performance

Shares of NYSE:AEL traded up $0.26 during trading on Monday, reaching $53.96. The company had a trading volume of 167,193 shares, compared to its average volume of 675,207. American Equity Investment Life Holding has a fifty-two week low of $28.05 and a fifty-two week high of $54.30. The stock’s fifty day moving average price is $53.36 and its 200 day moving average price is $44.33. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 9.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.03). The business had revenue of $851.60 million during the quarter, compared to analyst estimates of $646.06 million. American Equity Investment Life had a net margin of 18.55% and a return on equity of 15.52%. American Equity Investment Life’s revenue was up 600.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts predict that American Equity Investment Life Holding will post 6.48 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating and lifted their target price for the stock from $49.00 to $55.00 in a report on Friday, July 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of American Equity Investment Life in a report on Tuesday, August 8th. StockNews.com initiated coverage on shares of American Equity Investment Life in a report on Saturday. They issued a “hold” rating on the stock. Finally, Raymond James lowered shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.38.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.