Rhumbline Advisers reduced its stake in American Equity Investment Life Holding Company (NYSE:AEL) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,123 shares of the financial services provider’s stock after selling 4,239 shares during the period. Rhumbline Advisers owned about 0.21% of American Equity Investment Life Holding worth $4,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elkfork Partners LLC raised its position in 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 during the last quarter. Meeder Asset Management Inc. raised its position in American Equity Investment Life Holding by 90.3% in the second quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock valued at $134,000 after buying an additional 2,427 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in 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 during the last quarter. Quantbot Technologies LP bought a new position in American Equity Investment Life Holding during the first quarter valued at approximately $144,000. Finally, Ameritas Investment Partners Inc. bought a new position in American Equity Investment Life Holding during the first quarter valued at approximately $175,000. 93.37% of the stock is owned by hedge funds and other institutional investors.

American Equity Investment Life Holding Company (NYSE AEL) opened at 28.42 on Friday. The stock has a market cap of $2.53 billion, a P/E ratio of 13.09 and a beta of 2.50. The firm’s 50-day moving average price is $27.63 and its 200-day moving average price is $25.68. American Equity Investment Life Holding Company has a 12 month low of $15.39 and a 12 month high of $28.64.

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 for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. The company had revenue of $819.10 million for the quarter, compared to analyst estimates of $531.83 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. On average, analysts predict that American Equity Investment Life Holding Company will post $2.64 earnings per share for the current year.

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Several research firms have recently commented on AEL. ValuEngine raised American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research report on Friday. Zacks Investment Research raised 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 report on Tuesday, August 8th. BidaskClub raised American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada upped their target price on American Equity Investment Life Holding from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, TheStreet raised American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently 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.

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

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