American Equity Investment Life Holding (AEL) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in American Equity Investment Life Holding (NYSE:AEL) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 483,075 shares of the financial services provider’s stock after selling 102,327 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.54% of American Equity Investment Life worth $17,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of American Equity Investment Life by 56.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,158,624 shares of the financial services provider’s stock valued at $34,018,000 after purchasing an additional 416,514 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of American Equity Investment Life in the 2nd quarter valued at about $10,379,000. Swiss National Bank boosted its position in shares of American Equity Investment Life by 1.9% in the 2nd quarter. Swiss National Bank now owns 150,000 shares of the financial services provider’s stock valued at $5,400,000 after purchasing an additional 2,800 shares during the period. Legal & General Group Plc boosted its position in shares of American Equity Investment Life by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 226,069 shares of the financial services provider’s stock valued at $8,115,000 after purchasing an additional 10,618 shares during the period. Finally, Comerica Bank boosted its position in shares of American Equity Investment Life by 3.0% in the 2nd quarter. Comerica Bank now owns 104,784 shares of the financial services provider’s stock valued at $3,678,000 after purchasing an additional 3,042 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

American Equity Investment Life stock opened at $34.84 on Friday. American Equity Investment Life Holding has a twelve month low of $27.06 and a twelve month high of $38.56. The company has a quick ratio of 0.12, a current ratio of 0.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 11.03 and a beta of 2.51.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.99. American Equity Investment Life had a return on equity of 12.77% and a net margin of 13.62%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $600.27 million. During the same period last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, research analysts forecast that American Equity Investment Life Holding will post 3.59 EPS for the current year.

A number of analysts recently issued reports on the company. ValuEngine cut American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Sandler O’Neill reissued a “buy” rating and issued a $41.00 target price on shares of American Equity Investment Life in a research report on Friday, July 13th. Finally, Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the company a “buy” rating in a research report on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $36.17.

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American Equity Investment Life Profile

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

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Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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