Massachusetts Financial Services Co. MA Raises Stake in American Equity Investment Life Holding (AEL)

Massachusetts Financial Services Co. MA lifted its position in American Equity Investment Life Holding (NYSE:AEL) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,719 shares of the financial services provider’s stock after acquiring an additional 1,793 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.08% of American Equity Investment Life worth $2,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone Ridge Asset Management LLC acquired a new position in shares of American Equity Investment Life in the 4th quarter worth approximately $687,000. Brandywine Global Investment Management LLC grew its position in shares of American Equity Investment Life by 15.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 280,335 shares of the financial services provider’s stock worth $8,615,000 after acquiring an additional 37,032 shares in the last quarter. Millennium Management LLC grew its position in shares of American Equity Investment Life by 225.2% in the 4th quarter. Millennium Management LLC now owns 605,285 shares of the financial services provider’s stock worth $18,600,000 after acquiring an additional 419,164 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of American Equity Investment Life by 7.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 73,197 shares of the financial services provider’s stock worth $2,249,000 after acquiring an additional 4,878 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of American Equity Investment Life by 1.8% in the 4th quarter. Swiss National Bank now owns 142,200 shares of the financial services provider’s stock worth $4,370,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 93.58% of the company’s stock.

American Equity Investment Life opened at $32.28 on Wednesday, MarketBeat reports. American Equity Investment Life Holding has a 12-month low of $23.02 and a 12-month high of $35.79. The company has a market cap of $2.61 billion, a P/E ratio of 10.22 and a beta of 2.45. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. American Equity Investment Life had a return on equity of 11.22% and a net margin of 8.49%. The business had revenue of $510.78 million during the quarter, compared to analyst estimates of $514.11 million. During the same quarter in the previous year, the firm posted $0.66 EPS. equities analysts expect that American Equity Investment Life Holding will post 3.43 EPS for the current fiscal year.

Several research analysts have recently commented on AEL shares. ValuEngine upgraded American Equity Investment Life from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Tuesday, April 17th. UBS assumed coverage on American Equity Investment Life in a research report on Friday, March 2nd. They issued a “sell” rating and a $30.00 target price for the company. Finally, SunTrust Banks restated a “buy” rating and set a $38.00 price objective on shares of American Equity Investment Life in a research report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $30.88.

In other American Equity Investment Life news, CEO John M. Matovina sold 20,000 shares of American Equity Investment Life stock in a transaction on Friday, March 16th. The stock was sold at an average price of $31.85, for a total transaction of $637,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ronald James Grensteiner sold 47,750 shares of American Equity Investment Life stock in a transaction on Monday, March 26th. The shares were sold at an average price of $30.20, for a total value of $1,442,050.00. Following the sale, the insider now directly owns 122,792 shares in the company, valued at approximately $3,708,318.40. The disclosure for this sale can be found here. Insiders have sold a total of 204,120 shares of company stock valued at $6,301,010 in the last 90 days. Insiders own 1.90% of the company’s stock.

About American Equity Investment Life

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.

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL).

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

Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply