Public Employees Retirement System of Ohio Sells 46,762 Shares of American Equity Investment Life Holding (NYSE:AEL)

Public Employees Retirement System of Ohio trimmed its position in American Equity Investment Life Holding (NYSE:AEL) by 96.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,838 shares of the financial services provider’s stock after selling 46,762 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in American Equity Investment Life were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of American Equity Investment Life by 48.2% during the third quarter. American Century Companies Inc. now owns 708,859 shares of the financial services provider’s stock worth $38,023,000 after buying an additional 230,465 shares during the last quarter. Deutsche Bank AG grew its stake in shares of American Equity Investment Life by 15.1% during the third quarter. Deutsche Bank AG now owns 39,427 shares of the financial services provider’s stock worth $2,115,000 after buying an additional 5,173 shares during the last quarter. Comerica Bank grew its stake in shares of American Equity Investment Life by 422.8% during the third quarter. Comerica Bank now owns 35,443 shares of the financial services provider’s stock worth $1,901,000 after buying an additional 28,664 shares during the last quarter. Morgan Stanley grew its stake in shares of American Equity Investment Life by 40.6% during the third quarter. Morgan Stanley now owns 1,397,850 shares of the financial services provider’s stock worth $74,981,000 after buying an additional 403,522 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of American Equity Investment Life by 5,296.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider’s stock worth $89,539,000 after buying an additional 1,638,328 shares during the last quarter. Institutional investors own 94.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AEL shares. StockNews.com initiated coverage on shares of American Equity Investment Life in a research note on Monday, March 11th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of American Equity Investment Life from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.00.

American Equity Investment Life Price Performance

AEL stock opened at $56.23 on Friday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 26.28 and a beta of 0.79. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.28. American Equity Investment Life Holding has a 12-month low of $35.22 and a 12-month high of $56.30. The company’s fifty day simple moving average is $55.61 and its 200 day simple moving average is $54.86.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.24. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $673.53 million. American Equity Investment Life had a net margin of 7.42% and a return on equity of 25.15%. American Equity Investment Life’s revenue for the quarter was up 61.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, analysts expect that American Equity Investment Life Holding will post 7.11 earnings per share for the current year.

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.