Burney Co. Trims Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Burney Co. decreased its holdings in American Equity Investment Life Holding (NYSE:AEL) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,445 shares of the financial services provider’s stock after selling 400 shares during the period. Burney Co.’s holdings in American Equity Investment Life were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of American Equity Investment Life by 69.6% in the second quarter. EverSource Wealth Advisors LLC now owns 860 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 353 shares in the last quarter. Captrust Financial Advisors grew its stake in American Equity Investment Life by 3.4% during the fourth quarter. Captrust Financial Advisors now owns 14,663 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 483 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in American Equity Investment Life during the second quarter valued at approximately $27,000. Covestor Ltd grew its stake in American Equity Investment Life by 38.9% during the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 610 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in American Equity Investment Life during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.

American Equity Investment Life Trading Up 0.6 %

Shares of American Equity Investment Life stock opened at $54.70 on Friday. The firm has a market cap of $4.32 billion, a PE ratio of 6.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.36. American Equity Investment Life Holding has a 1 year low of $31.57 and a 1 year high of $54.74. The company has a 50 day simple moving average of $53.64 and a two-hundred day simple moving average of $49.85.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.77. The firm had revenue of $266.65 million during the quarter, compared to analyst estimates of $561.09 million. American Equity Investment Life had a net margin of 26.98% and a return on equity of 21.32%. During the same period in the previous year, the business posted $0.99 EPS. Analysts expect that American Equity Investment Life Holding will post 7.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEL. StockNews.com began coverage on shares of American Equity Investment Life in a research note on Sunday, November 12th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of American Equity Investment Life in a research note on Tuesday, August 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.38.

Insider Transactions at American Equity Investment Life

In other news, Director Robert L. Howe sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $54.16, for a total value of $270,800.00. Following the completion of the sale, the director now directly owns 78,282 shares in the company, valued at approximately $4,239,753.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert L. Howe sold 5,000 shares of American Equity Investment Life stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $54.16, for a total value of $270,800.00. Following the transaction, the director now directly owns 78,282 shares of the company’s stock, valued at $4,239,753.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anant Bhalla sold 183,202 shares of American Equity Investment Life stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $54.05, for a total transaction of $9,902,068.10. Following the completion of the transaction, the chief executive officer now directly owns 1,028,134 shares in the company, valued at $55,570,642.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 542,051 shares of company stock worth $29,282,539. 1.83% of the stock is currently owned by insiders.

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.