Wellington Management Group LLP boosted its stake in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 57.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,580 shares of the financial services provider’s stock after buying an additional 9,647 shares during the period. Wellington Management Group LLP’s holdings in American Equity Investment Life Holding were worth $628,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Elkfork Partners LLC increased its stake in shares of American Equity Investment Life Holding by 11.0% in the first quarter. Elkfork Partners LLC now owns 4,508 shares of the financial services provider’s stock valued at $107,000 after buying an additional 448 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of American Equity Investment Life Holding by 11.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the financial services provider’s stock valued at $129,000 after buying an additional 544 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of American Equity Investment Life Holding during the first quarter valued at $144,000. Ameritas Investment Partners Inc. bought a new stake in shares of American Equity Investment Life Holding during the first quarter valued at $175,000. Finally, 1st Global Advisors Inc. bought a new stake in shares of American Equity Investment Life Holding during the first quarter valued at $206,000. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

American Equity Investment Life Holding Company (NYSE:AEL) traded up 0.37% during mid-day trading on Friday, reaching $27.30. 393,453 shares of the company’s stock were exchanged. American Equity Investment Life Holding Company has a 1-year low of $15.39 and a 1-year high of $28.64. The firm’s 50-day moving average is $27.36 and its 200 day moving average is $25.44. The stock has a market capitalization of $2.43 billion, a PE ratio of 12.57 and a beta of 2.49.

American Equity Investment Life Holding (NYSE:AEL) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The company had revenue of $819.10 million for the quarter, compared to analysts’ expectations of $531.83 million. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue was up 49.0% compared to the same quarter last year. Analysts forecast that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current fiscal year.

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Several research firms have recently issued reports on AEL. Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.00 target price on shares of American Equity Investment Life Holding in a research note on Wednesday. BidaskClub raised shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, August 8th. TheStreet raised shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada increased their target price on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $25.25.

About American Equity Investment Life Holding

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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