Burney Co. lowered its stake in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,825 shares of the financial services provider’s stock after selling 620 shares during the period. Burney Co.’s holdings in American Equity Investment Life were worth $527,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Associates Management Inc. acquired a new stake in American Equity Investment Life during the 3rd quarter worth about $51,012,000. BCK Capital Management LP acquired a new stake in shares of American Equity Investment Life during the third quarter valued at approximately $1,368,000. Illinois Municipal Retirement Fund purchased a new stake in shares of American Equity Investment Life in the 3rd quarter valued at approximately $1,941,000. Picton Mahoney Asset Management acquired a new position in American Equity Investment Life in the 3rd quarter worth approximately $26,850,000. Finally, NBC Securities Inc. purchased a new position in American Equity Investment Life during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on American Equity Investment Life in a report on Thursday. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.67.
American Equity Investment Life Stock Up 0.3 %
American Equity Investment Life stock opened at $55.50 on Friday. The firm’s 50 day moving average price is $55.50 and its two-hundred day moving average price is $54.34. The firm has a market cap of $4.39 billion, a PE ratio of 7.08 and a beta of 0.80. American Equity Investment Life Holding has a twelve month low of $31.57 and a twelve month high of $56.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36.
American Equity Investment Life (NYSE:AEL – Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.77. American Equity Investment Life had a return on equity of 21.32% and a net margin of 26.98%. The business had revenue of $266.65 million during the quarter, compared to analyst estimates of $561.09 million. During the same period last year, the company earned $0.99 earnings per share. On average, research analysts predict that American Equity Investment Life Holding will post 7.24 EPS for the current fiscal year.
About American Equity Investment Life
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.
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