Northern Trust Corp grew its stake in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,209,906 shares of the financial services provider’s stock after acquiring an additional 42,035 shares during the period. Northern Trust Corp owned about 2.49% of American Equity Investment Life Holding worth $58,078,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AEL. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Equity Investment Life Holding by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 414 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in American Equity Investment Life Holding by 79.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 2,226 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in American Equity Investment Life Holding by 90.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,427 shares in the last quarter. Quantbot Technologies LP acquired a new position in American Equity Investment Life Holding during the 1st quarter worth $144,000. Finally, Ameritas Investment Partners Inc. acquired a new position in American Equity Investment Life Holding during the 1st quarter worth $175,000. 93.28% of the stock is owned by institutional investors.

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American Equity Investment Life Holding Company (NYSE AEL) opened at 29.50 on Friday. American Equity Investment Life Holding Company has a 12-month low of $15.39 and a 12-month high of $29.52. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.59 and a beta of 2.52. The stock has a 50 day moving average of $27.95 and a 200 day moving average of $25.90.

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

Several brokerages have weighed in on AEL. BidaskClub raised shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.00 price objective on shares of American Equity Investment Life Holding in a report on Wednesday, August 16th. Zacks Investment Research raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, August 8th. TheStreet raised shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. Finally, ValuEngine raised shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. American Equity Investment Life Holding has an average rating of “Buy” and a consensus price target of $25.25.

American Equity Investment Life Holding Profile

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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