TIAA CREF Investment Management LLC cut its stake in American Equity Investment Life Holding Company (NYSE:AEL) by 38.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,899 shares of the financial services provider’s stock after selling 187,016 shares during the period. TIAA CREF Investment Management LLC owned 0.33% of American Equity Investment Life Holding worth $7,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AEL. BlackRock Inc. raised its holdings in American Equity Investment Life Holding by 39,171.4% in the first quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock valued at $202,068,000 after acquiring an additional 8,529,563 shares in the last quarter. Vanguard Group Inc. raised its holdings in American Equity Investment Life Holding by 7.7% in the first quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock valued at $197,855,000 after acquiring an additional 600,302 shares in the last quarter. Bank of America Corp DE raised its holdings in American Equity Investment Life Holding by 68.6% in the first quarter. Bank of America Corp DE now owns 1,363,485 shares of the financial services provider’s stock valued at $32,219,000 after acquiring an additional 554,672 shares in the last quarter. Victory Capital Management Inc. raised its holdings in American Equity Investment Life Holding by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,258,753 shares of the financial services provider’s stock valued at $33,080,000 after acquiring an additional 313,332 shares in the last quarter. Finally, State Street Corp raised its holdings in American Equity Investment Life Holding by 11.6% in the first quarter. State Street Corp now owns 2,586,563 shares of the financial services provider’s stock valued at $61,117,000 after acquiring an additional 269,315 shares in the last quarter. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms recently issued reports on AEL. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $30.00 price target on shares of American Equity Investment Life Holding in a report on Tuesday. 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 target on the stock 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. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $28.00 price target on shares of American Equity Investment Life Holding in a report on Wednesday, August 16th. Finally, 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. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. American Equity Investment Life Holding currently has an average rating of “Buy” and an average price target of $26.00.

Shares of American Equity Investment Life Holding Company (NYSE AEL) opened at 29.61 on Wednesday. American Equity Investment Life Holding Company has a one year low of $15.39 and a one year high of $29.89. The firm’s 50 day moving average is $28.15 and its 200-day moving average is $26.05. The firm has a market capitalization of $2.63 billion, a PE ratio of 13.64 and a beta of 2.52.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.59 by $0.12. The firm had revenue of $819.10 million during the quarter, compared to analysts’ expectations of $531.83 million. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. American Equity Investment Life Holding’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. On average, equities research analysts predict that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current fiscal year.

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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